France’s TotalEnergies sells stake in Iraqi Kurdish oil field

The sale follows the Iraqi federal government pressuring international firms to pull out of the autonomous region, which has led to concern from the US State Department.
Sean Gallup/Getty Images
An oil storage tank stands at the TotalEnergies Leuna oil refinery at the Leuna Refinery and Chemical Park on May 16, 2022, in Leuna, Germany. - Sean Gallup/Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

A French energy giant has completed the sale of its stake in an Iraqi oil field. 

TotalEnergies sold its 18% interest in the Sarsang oil field in the Kurdistan Region of Iraq to ShaMaran Petroleum Corp for $155 million. An additional $15 million is payable “depending on production and oil prices,” according to a press release. 

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