ShaMaran to Re-Focus Asset Base in Kurdistan

ShaMaran provided the following update on its Pulkhana and Arbat blocks in Kurdistan.

ShaMaran Petroleum is in the process of examining options to re-focus 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. A further update will be provided when this negotiation is concluded.

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