ShaMaran Petroleum Acquires TEPKRI Sarsang A/S from TotalEnergies
September 14, 2022
ShaMaran Petroleum Corp. has completed the acquisition of TEPKRI Sarsang A/S (to be renamed ShaMaran Sarsang A/S) from TotalEnergies, adding an 18% interest in the Sarsang oil field and transforming ShaMaran into an owner of stakes across three producing Kurdistan fields. The deal increases ShaMaran's pro‑forma net production and reserves, strengthens its cash position and balance sheet (including merging bonds into a single $300 million 2025 issue), and includes retiring a $20 million convertible issued to TotalEnergies.
- Buyers
- ShaMaran Petroleum Corp.
- Targets
- TEPKRI Sarsang A/S
- Sellers
- TotalEnergies SE
- Industry
- Oil & Gas
- Location
- Denmark
- Transaction Type
- Buyout
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