HKN Energy completed the acquisition of a 25% stake in Atrush Block from ShaMaran.

HKN Energy, an independent energy company, completed the acquisition of a 25% stake in Atrush Block, a producing oil field, from ShaMaran, an oil and gas company. Financial terms were not disclosed. “The closing of the Atrush transaction with TAQA and HKN advances our consolidation strategy in Kurdistan. We expect to increase production at Atrush and achieve significant synergies between the adjoining Atrush and Sarsang blocks with HKN as operator of both blocks. We thank TAQA, the Kurdistan Regional Government and HKN for their tireless efforts to close this ‘win-win’ transaction for all parties,” Garrett Soden, ShaMaran President and CEO.