Abu Dhabi’s Taqa has completed its exit from the Kurdistan Region of Iraq, closing the sale of its 47.4% stake in the Atrush license to Canada’s Shamaran and US firm HKN. Following the transaction, Shamaran has expanded its stake in Atrush to 50%, while HKN enters the license and assumes the role of operator with 25% (MEES, 26 January).
In a 7 August announcement, Shamaran CEO Garrett Soden said “the closing of the Atrush transaction with TAQA and HKN advances our consolidation strategy in Kurdistan. We expect to increase production at Atrush and achieve significant synergies between the adjoining Atrush and Sarsang blocks with HKN as operator of both blocks.” (CONTINUED - 313 WORDS)
