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Iraq: ShaMaran acquires TotalEnergies interest in the Sarsang PSC in Kurdistan
14 Jul 2021
TotalEnergies to acquire its affiliate (
TEPKRI Sarsang) holding an 18% non-operated participating interest in the
Sarsang Production Sharing Contract in the Kurdistan Region of Iraq for an
initial consideration of USD 155 million plus working capital adjustments amounting to U
SD 14.2 million as of January 1, 2021.  An additional contingent consideration of
USD 15 million is payable in the future as more fully described below.  The Acquisition is transformative to ShaMaran’s production, reserves and financial profile and delivers on the Company’s focused and disciplined strategy for growth by targeting this opportunity that is accretive to the Company, its shareholders and its bondholders.

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