Kurdistan-focused Oil Firms Gulf Keystone, ShaMaran Agree $601 Million Merger

Asharq Al-Awsat EnglishOctober 20, 2026By Asharq Al Awsat

UK-listed Gulf Keystone Petroleum said on Tuesday it will merge with Norway's ShaMaran Petroleum in a $601 million all-share deal, creating one of the largest oil producers in Iraq's Kurdistan region. Under the agreement, ShaMaran shareholders will receive 0.07533958 Gulf ⁠Keystone shares for ⁠each ShaMaran share held. Following completion of deal, shareholders of each company will own about 50% of the combined ⁠company.

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