ShaMaran Expands HKN Partnership Into Federal Iraq With 25% Stake in Hamrin Joint Venture

Bitget2026/10/20 06:05

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ShaMaran Petroleum will take a 25% stake in HKN Hamrin, expanding its partnership with HKN Energy into Federal Iraq.
The investment includes a $35 million carry of HKN's initial costs; another $15 million becomes payable after full investment and carry recovery.
HKN will operate Hamrin under a 25-year contract, targeting production of approximately 60,000 barrels per day by 2028 from 20,000 currently.
Estimated remaining gross reserves and resources range from 500 million to 1 billion barrels.
A contemplated bond of up to $200 million would refinance approximately $144 million outstanding under the existing 2029 bond and fund investment.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. ShaMaran Petroleum Ltd. published the original content used to generate this news brief via PR Newswire (Ref. ID: EN75707) on October 20, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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ShaMaran Expands HKN Partnership Into Federal Iraq With 25% Stake in Hamrin Joint Venture

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