Shamaran acknowledges explosion at Sarsang; no injuries

Executive Summary

• Shamaran Petroleum Corp. reports an explosion at a storage facility within the Sarsang block in the Kurdistan region of Iraq, operated by HKN Energy Ltd.
• All personnel are accounted for with no injuries reported; however, operations at Sarsang are suspended and production at the Atrush block remains shut-in as a precaution.
• HKN Energy is conducting a full assessment of the incident and coordinating with local authorities, while Shamaran commits to providing further updates.

Key Details

• Incident Location: Sarsang block, Kurdistan region of Iraq.
• Incident Type: Explosion at one of the storage facilities in the Sarsang field.
• Operator: HKN Energy Ltd.
• Personnel Status: All personnel safely accounted for; no injuries reported.
• Operational Impact:
  • Operations at Sarsang are suspended.
  • Production at the Atrush block is shut-in as a precaution.
• Response: HKN Energy has initiated a full assessment and is coordinating with local authorities and stakeholders.
• Company Interests: Shamaran holds a 50% working interest in the Atrush block and an 18% working interest in the Sarsang block.

Notable Quotes

• "Shamaran and HKN are committed to the highest standards of safety and environmental responsibility and will provide further updates as more information becomes available."