ShaMaran Petroleum (TSE:SNM) has released an update.
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ShaMaran Petroleum Corp. has successfully completed a strategic transaction, acquiring TAQA Atrush B.V. and subsequently selling a portion to HKN Energy IV, Ltd., effectively doubling their stake in the Atrush Block to a 50% working interest. The deal, which is seen as a ‘win-win’ for all parties involved, is expected to boost production at Atrush and create synergies with the adjacent Sarsang block, now both operated by HKN Energy.
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