ShaMaran Petroleum Corp. pipeline update

ShaMaran Petroleum Corp. provides the following operational update.

Following the announcement on 19 May 2016 regarding the changed scope of the Feeder pipeline from the Atrush block boundary to a tie-in point with the main Kurdistan export pipeline (the ‘Feeder pipeline’), TAQA Atrush B.V., General Exploration Partners, Inc. (a wholly owned subsidiary of ShaMaran) and Marathon Oil KDV BV, have been working very closely with the Kurdistan Regional Government and KAR Company regarding a contractual and commercial structure for the construction of the Feeder pipeline.

Commercial and legal discussions are in an advanced state, but proved to be more complex than initially envisaged and have resulted in a delay in the start of construction of the Feeder pipeline. This will most likely result in first oil to slip into 1Q17.

Chris Bruijnzeels, President and CEO of ShaMaran, commented: “Construction of the Atrush production facilities is substantially complete. Following the change in scope for the Feeder pipeline, all parties involved have been working diligently towards a common goal to get a contractual and commercial structure in place, to allow construction of the Feeder pipeline to commence. Unfortunately legal and commercial discussions proved to be more complex and have taken longer than initially envisaged, but are now close to being finalised.”

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/project-news/11082016/shamaran-petroleum-corp-pipeline-update/