| Atrush Field | |
|---|---|
  Location of Atrush Field | |
| Country | Iraq |
| Region | Dohuk |
| Location | Sheikan district |
| Offshore/onshore | Onshore |
| Coordinates | 36°51′48″N 43°27′1″E / 36.86333°N 43.45028°E[1] |
| Operators | TAQA (47.4%) |
| Partners | Kurdistan Regional Government (25%) ShaMaran Petroleum Corp. (27.6%) |
| Field history | |
| Discovery | April 13th 2011[2] |
| Start of production | July 3rd, 2017[3] |
| Production | |
| Current production of oil | 45,000 barrels per day (~2.2×106 t/a) |
| Estimated oil in place | 296 million barrels (~4.04×107 t) |
| Recoverable oil | 102.7 million barrels (~1.401×107 t) |
| Producing formations | Jurassic fractured carbonate[4] |
Atrush Field is a Jurassic fractured carbonate oilfield near Dohuk, Iraqi Kurdistan. It was discovered by the Consortium of General Exploration Partners. As of March 12, 2013, the Kurdistan Regional Government (KRG) has exercised its option to acquire a 25% Government Interest of the Atrush Field according to the PSC contract.[5]
General Exploration Partners (GEP) held 80% of Atrush and was in cooperation with Aspect Energy International, who owned 2/3 of GEP, thus Aspect Energy International had a share of 53,2%. Aspect Energy International sold its interest in GEP to TAQA for $600 mln,[6] which basically transferred Aspect's interest in GEP to TAQA. Shamaran's interest remained at 26,8% of Atrush, and the remaining 20% is held by Marathon Oil.[7]
In June, 2018 Shamaran Petroleum announced that it intends to purchase Marathon Petroleum's 15% share of the Atrush Block.,[8] with effect from Jan 1, 2018. ShaMaran will acquire all shares of MOKDV - Marathon's Dutch subsidiary for US$63m. ShaMaran will then sell 7.5% working interest to Taqa for US$33m. The sale is expected to close in the first quarter of 2019.[9]
Oil began flowing through the Atrush Central Production Facility on July 3, 2017.[3] In September 2017, an agreement for the sale of Atrush oil was signed between TAQA, its partners and the KRG. Under the agreement, the KRG will buy oil exported from the Atrush field by pipeline at the Atrush block boundary. The quality of the oil will force a price adjustment of approximately $16/bbl lower than the dated Brent oil price. All local and international transportation costs will be an additional fee. This discount is based on the principles similar to other oil sales agreements in the Kurdistan Region of Iraq.[10]
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 21 March 2016. Retrieved 3 February 2013.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "ShaMaran Petroleum Corp - press-releases". Archived from the original on 1 October 2013. Retrieved 3 February 2013.
- ^ a b "ShaMaran Petroleum Corp - press-releases". Archived from the original on 7 August 2017. Retrieved 25 July 2017.
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 12 June 2018. Retrieved 11 June 2018.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "ShaMaran Petroleum Corp - Shamaran 2012 Year End Financial and Operating Results". Archived from the original on 31 March 2013. Retrieved 29 March 2013.
- ^ "TAQA buys stake in Iraqi Kurdistan oil block for $600 mln". Reuters. 2 January 2013.
- ^ "ShaMaran acquires Larger Stake in Atrush".
- ^ "Archived copy" (PDF). Archived from the original (PDF) on 12 June 2018. Retrieved 11 June 2018.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Archived copy" (PDF). Archived from the original (PDF) on 30 January 2019. Retrieved 30 January 2019.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "ShaMaran Petroleum Corp - press-releases". Archived from the original on 2 October 2017. Retrieved 3 October 2017.