Gulf Keystone and ShaMaran Agree 601M Merger
Gulf Keystone Petroleum agreed to merge with Norway's ShaMaran Petroleum in a 601 million dollar all-share deal. The transaction creates a major producer in Iraq's Kurdistan region with combined proved reserves of 323 million barrels.
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Gulf Keystone Petroleum agreed to merge with Norway-based ShaMaran Petroleum in a $601 million all-share transaction, creating a top producer in Iraq's Kurdistan region. The 50-50 combination unites four regional fields holding 323 million barrels of proved and probable reserves. Dealmaking across the Middle East is accelerating as firms scale up production capacity.
