Energy France’s TotalEnergies sells 18% interest in Iraqi Sarsang oil field By Pramod Kumar September 16, 2022, 5:23 AM Reuters/Stephane Mahe The stake in onshore Sarsang oil field was sold to ShaMaran Petroleum, a company listed in Canada and Sweden. French multi-energy company TotalEnergies has sold its 18 percent interest in the onshore Sarsang oil field in the Kurdistan region of Iraq for $155 million, the company said in a statement. Depending on production and oil prices, additional contingent consideration of $15 million will be payable in the future. The stake was sold to ShaMaran Petroleum, a company listed in Canada and Sweden. The Sarsang field, discovered in 2011, is operated by HKN Energy Limited (62 percent), with the Kurdistan Regional Government of Iraq owning a 20 percent interest. TotalEnergies’ share of production was around 3,500 barrels per day in 2021. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
