The Kurdistan Oil PSC Contracts – What is Going to Become of Them?

Sheri Laizer | Exclusive to iKurd.net

Iraq’s Federal Supreme Court has ruled the Sarsang PSC contract illegal concerning HKN Energy – and that is Ross Perot’s Company. [1] But meanwhile the KRG elite’s efforts continue – particularly in the territory under the control of the Barzani-dominated KDP.

According to a statement on July 7 reproduced in the ISHM bulletin of 7-14 July 2022, “Iraq’s Oil Minister, Ihsan Abdul-Jabbar Ismail, said that his government was serious about enforcing a recent court decision against four foreign oil companies operating in the Kurdistan region. The day before, news reports said that an Iraqi court in Baghdad ruled that the contracts between the Kurdistan region’s government and Western Zagros, DNO, HKN Energy, and Genel Energy were void. The court reportedly found the contracts in question to be in violation of the February 15 ruling by the Federal Supreme Court against oil operations in the Kurdistan region.

In an exclusive interview with AP, Ismail, said that Baghdad’s plans to bring Kurdistan’s oil operations under its control will expand to reach a total of 17 companies and he would present the companies with three options: canceling the contracts, requesting waivers from Baghdad, or agreeing to transfer the deals from the KRG Natural Resources Ministry to Iraq’s federal Oil Ministry. Ismail said his approach first involves giving the companies a warning that they are “working in the smuggling of oil,” and “If they are a respectful company they will listen to us.” Should the companies refuse to cooperate, the minister said Baghdad would seek to enforce the court decisions through “the law and banks.” [2]

Of current importance therefore and worth watching next is the fate of the following fields:

The Sarsang field under the blacklisted HKN Energy=Ross Perot.

The Atrush field is now Taqa (Abu Dhabi National Energy Company) /ShaMaran (Lundin of Sweden) who bought out Alex Cranberg’s GEP Aspect Energy and kept the name.

Shaikan field, is GKP (KDP PUK/ UAE and UK elite). They own 95% of GKP, and that’s why they are paying themselves a dividend of 11% this year.

When, and if, ShaMaran use GEP to buy Sarsang, that would mean the elite of the KDP would own Sarsang, Atrush and Shaikan.

This is big money if those three oil fields should become one and it would amount to the world’s third largest oil field.

A recent public statement by ShaMaran itself read:

Shamaran Announces Sarsang Acquisition Progress

VANCOUVER, BC, July 12, 2022 /CNW/ – ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (TSXV: SNM) and (Nasdaq First North Growth Market (Sweden): SNM) is pleased to announce that the long stop date in the Sarsang Acquisition has been extended until November 12, 2022. ShaMaran has now signed the relevant document relating to the approval by the Kurdistan Regional Government (KRG) of this transaction and ShaMaran looks forward to the signing in due course of the relevant documents by the other parties, including the KRG. ShaMaran will keep the market informed when completion of this transaction occurs. [3]

In a map from 2011, GEP=Aspect Energy, America, who sold on to Taqa, Marathon sold to ShaMaran and ShaMaran own 30% of Atrush.

Ber Bar, Sheikh Adi, and al Qush, form part of this same field.

Are they not afraid of the blacklisting by Baghdad?

Related posts:

Iraq – The Cynical Swindle Iraqi Kurdistan – “Sold Out!” – Part II Iraqi Kurdistan – “Sold Out!” – Part III The Misleaders: Corrupt, Filthy Rich, and Proud of it Iraq: Revenge and Corruption Saddam Hussein’s Enemies: Paving the Road to the Invasion of Iraq Business with ISIS – Updated Nadhim Zahawi: Who Really is The New UK Chancellor? Saddam Hussein was a Friend to the West The Capture of The State of Iraq