- ShaMaran Petroleum Corp. (SNM) has reached a cumulative oil production milestone at the Atrush block in the Kurdistan region of northern Iraq
- As of September 14, 2021, the block surpassed its cumulative production milestone of 50 million barrels since its first oil in July 2017
- ShaMaran Petroleum is Canadian-based, Kurdistan-focused oil development and exploration company
- ShaMaran Petroleum Corp. (SNM) are steady, trading at $0.06 as of 9:30 am ET
ShaMaran Petroleum Corp. (SNM) has reached a cumulative oil production milestone at the Atrush block in the Kurdistan region of northern Iraq.
As of September 14, 2021, the block surpassed its cumulative production milestone of 50 million barrels since its first oil in July 2017.
Dr. Adel Chaouch, president and CEO of ShaMaran, commented on the milestone.
“This significant operational achievement is noteworthy,” he said, “as the production milestone has been achieved notwithstanding the 2020s significantly reduced development program due to the global pandemic and collapse of world crude oil prices.”
“This demonstrates,” added Chaouch, “that the Atrush joint venture has the ability to successfully navigate through the Kurdistan oil industry’s difficult as well as good times.”
ShaMaran holds a 27.6 per cent interest in the Atrush block through its wholly-owned subsidiary General Exploration Partners Inc.
In 2021, the Atrush field gross average daily production is expected to range from 39,000 barrels of oil per day to 44 thousand barrels of oil per day.
ShaMaran Petroleum is Canadian-based, Kurdistan-focused oil development and exploration company.
The company is pursuing new development opportunities, and will soon hold an 18 per cent interest in the Sarsang block through a new acquisition.
ShaMaran Petroleum Corp. (SNM) is steady, trading at $0.06 as of 9:30 am ET.