Why ShaMaran Petroleum is poised to soar from the new oil supercycle

A look at the Atrush operation.
  • After a tumultuous year, investors are banking on a rebound in the oil sector
  • Like many in the industry, ShaMaran Petroleum faced their share of challenges in 2020 and was able to overcome them with careful planning and attention to detail
  • The company is now well-positioned to capitalize on the emerging supercycle and upswing in the oil industry

“It’s a whole different story this year — the world has changed, and our story has changed for the best.”

— Dr. Adel Chaouch, President and CEO, ShaMaran Petroleum Corp.

Oil production from Atrush commenced in July 2017.
From its inception, ShaMaran has believed, and continues to believe, in protecting and safeguarding the environment in all business decisions.
The Atrush Block is located in the Kurdistan Region of Iraq, approximately 85 km northwest of Erbil, the capital of Kurdistan.
  • 40 million barrels produced from Atrush to December 2020
  • Year-on-year production increase 2020 vs 2019 (32.5K bopd)
  • 2020 CAPEX reduction, strategic response to global challenges
  • $US/boe lifting costs reduction — $7.33 to $5.08 2019 vs 2020
  • Annual 2P reserves growth exceeded annual production since 2017

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