PARIS (Agefi-Dow Jones)–Energy producer TotalEnergies announced on Thursday that it has finalized the sale of its 18% stake in the onshore Sarsang oil field, located in Iraqi Kurdistan, to the Canadian oil group ShaMaran Petroleum.
The transaction was carried out for a firm amount of 155 million dollars, i.e. approximately 155.6 million euros, to which could be added an additional amount of 15 million dollars, depending on production and the price per barrel of oil, TotalEnergies said in a statement.
Discovered in 2011, the Sarsang field is operated by the American company HKN (62%), while the Kurdistan Regional Government (KRG) holds a 20% stake. TotalEnergies’ production share was around 3,500 barrels per day in 2021.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
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September 15, 2022 02:41 ET (06:41 GMT)