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ShaMaran Announces Agreements to Restart Oil Exports via Iraq-Türkiye Pipeline
ShaMaran Announces Agreements to Restart Oil Exports via Iraq-Türkiye Pipeline Can...
About this update from Shamaran Petroleum Corp.
[{"type":"text","content":"\n\n\n\n ShaMaran Announces Agreements to Restart Oil Exports via Iraq-Türkiye Pipeline\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Sept. 25, 2025\n \n\n\n /\n \n CNW/ -\n \n ShaMaran Petroleum Corp. (\"ShaMaran\" or the \"Company\")\n \n (TSXV: SNM) (Nasdaq First North: SNM) announces that interim agreements have been executed between the Kurdistan Regional Government, Government of\n \n Iraq\n \n and several International Oil Companies (\"IOCs\"), including ShaMaran. These agreements are expected to enable the restart of international oil exports by pipeline from the Kurdistan Region of\n \n Iraq\n \n (\"KRI\") within a matter of days.\n \n\n\n Garrett Soden\n \n , President and CEO of ShaMaran, commented: \"We welcome the resumption of oil exports from the\n \n Kurdistan\n \n region and thank our operating partner, HKN Energy, for leading the negotiations. Pipeline exports are critical for the future stability and prosperity of both the\n \n Kurdistan\n \n region and federal\n \n Iraq\n \n . We believe these agreements will benefit all Iraqis and allow IOCs to continue investing in the region while receiving the contractual value of the oil produced.\"\n \n\n The agreements to resume oil exports from the KRI are based on the Iraqi Budget Law amendment in\n \n February 2025\n \n and\n \n Iraq's\n \n recognition of the KRI Production Sharing Contracts (\"PSCs\"). The Budget Law provides for an initial period of approximately three months during which IOCs will be compensated at\n \n US$16\n \n per barrel for the cost of production and transportation, resulting in similar economics to the current KRI local oil sales, with a reconciliation to full PSC entitlement following a review of the IOC invoices and contractual entitlements by an industry consultant. The Iraqi State Organization for Marketing of Oil (\"SOMO\") will market the KRI crude at the\n \n Kirkuk\n \n blend official selling price, and IOCs will be paid in arrears from the sale of their allocation at\n \n Ceyhan\n \n via their nominat...