Presentation

ShaMaran Petroleum is a Canadian E&P company which holds a 27.6% working interest in the Atrush oil field in the Kurdistan region of Iraq. For 2021, ShaMaran guides 39-44,000 bbl/day of gross production at Atrush with a low opex of USD 4.7-5.7/bbl. In the current oil price environment, this is expected to generate significant cash flow that can be used to reduce the outstanding interest bearing debt or investments into further production growth.

The company is part of the Lundin Group and is headquartered in Vancouver, Canada. It is dual-listed on the TSX Venture Exchange in Canada and Nasdaq First North in Stockholm. ShaMaran has a market cap of USD 75m and USD 191m of net debt as of YE’20.