ShaMaran Petroleum, a Canadian independent with four production sharing agreements in the Kurdish region of Iraq, has suspended operations at two sites in the region after ‘disappointing’ drilling results.
In a company statement published yesterday the company says it is “re-focus[sing] its asset base in Kurdistan and as a consequence has agreed with the Kurdistan Regional Government to suspend operations on both the Pulkhana and Arbat blocks.”
“The Company is presently in negotiation with the Ministry of Natural Resources in Kurdistan regarding the future obligations on the Arbat and Pulkhana blocks.”
While the Kurdish region is feted for its huge exploration potential, it also has difficult geology, whcih has led to drilling delays and the abandonment of exploration projects by other independents, such as the UK’s Sterling Energy.
ShaMaran President and CEO, Pradeep Kabra, said he is “disappointed” in the results from the two blocks. Exploratory drilling remains scheduled for early 2012 at the company’s Atrush and Taza sites, where early exploratory results have been more encouraging.
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