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TotalEnergies Sells 18% Stake in Sarsang Oil Field in KRI for $155mn

France’s energy giant TotalEnergies said that it has completed the sale of its 18% interest in the onshore Sarsang oil field in the Kurdistan region of Iraq for $155 million.

 

The stake was sold to ShaMaran Petroleum (SNM.V), a company listed in Canada and Sweden, which is focused on oil exploration and development in Kurdistan, TotalEnergies said in a statement.

 

The Sarsang field, discovered in 2011, is operated by HKN (62%), with KRG owning a 20% interest. TotalEnergies' share of production was around 3,500 barrels per day in 2021, it added.

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