ShaMaran Petroleum Q2 revenue up 56% on higher local oil sales

Overview

• ShaMaran Q2 2025 revenue rises 56% yr/yr due to higher local oil sales

• Adjusted EBITDAX for Q2 2025 up 59% yr/yr, driven by increased production

• Company repaid $29.4 mln of corporate bond

• Over the last year co has reduced net debt by 50%

Outlook

• ShaMaran focused on cash flow and debt repayment

• Company working on Iraq-Türkiye pipeline reopening

• Half of Sarsang's production capacity will remain offline until late October 2025

Result Drivers

• HIGHER LOCAL SALES - Revenue increased 56% yr/yr due to higher local oil sales and increased working interest in Atrush Block

• INCREASED PRODUCTION - Gross margin on oil sales rose 73% yr/yr, driven by increased production and local sales

• DEBT REDUCTION - Net debt reduced by almost 50% over the last year, providing a solid base for potential future shareholder distributions

Key Details

Press Release: ID:nCNW8dgcBa