Kurdistan lies within the northern extension of the Zagros Folded Belt and is estimated to contain roughly half of Iraq's estimated 115 billion barrels of oil reserves. The area is highly underexplored and is currently undergoing a massive exploration and development campaign by over 30 mid to large size international oil companies.

ShaMaran Petroleum has interests in three blocks: the Pulkhana development block and the Arbat and K42 exploration blocks.