ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration vehicle which holds an interest in the Atrush oil discovery located in the region. This project is nearby and on trend to existing fields and recent discoveries.
The Company is currently in the pre-production stage of its appraisal and development program relating to the Atrush Block. Phase 1 of the Field Development Plan for the Atrush Block consists of installing and commissioning production facilities with a capacity of 30,000 barrels of oil per day ("bopd") and the drilling and completion of five production wells to supply the production facility. First oil production from the Atrush Block is targeted for mid 2016.
Kurdistan lies within the northern extension of the Zagros Folded Belt. The area is highly underexplored and is currently undergoing a significant exploration and development campaign by over 30 mid to large size international oil companies.
ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX Venture Exchange under the symbol "SNM" as well as NASDAQ OMX First North under the symbol "SNM".