Total SA has purchased ShaMaran Petroleum Corp’s entire 20 per cent undivided participating interest in the Taza PSC in the Kurdistan Region of Iraq for US$48mn
French oil and gas giant Total will also pay a reimbursement to ShaMaran for costs incurred on joint operations from 1 April 2012 until the closing date of the deal.
The Taza prospect is currently hosting drilling operations at the Taza-1 exploration well, which has will be drilled to a depth of 3,250 metres and is located approximately 80km southwest of Sulaimaniya.
Total has joined operator Oil Search (
