Canadian upstream independent Shamaran Petroleum said its oil fields in northern Iraq remain offline because of insecurity linked to the US-Iran war.
The Atrush and Sarsang fields, in the semiautonomous Kurdistan region, were shut by Shamaran and US-based operator HKN Energy on 20 July. The fields had restarted in June when security briefly improved.
Gross production at the fields was 1,900 b/d in the second quarter, down from 63,800 b/d a year earlier. Shamaran's share was 700 b/d.
Iraqi Kurdistan has been repeatedly targeted by missiles and drones since the start of the US-Iran war. The Sarsang field was hit twice in the war's early stages.
London-listed producer Gulf Keystone shut its Shaikan field on 20 July, after a restart in June. Norway's DNO has kept its output online, according to partner Genel Energy.
Production outages in Iraqi Kurdistan have cut supply available for export through the Iraq-Turkey Pipeline (ITP) to Turkey's Mediterranean Ceyhan port. Higher federal Iraqi flows through the ITP have offset declines in exports of the medium sour Kirkuk grade.
Shamaran posted a quarterly profit of $8.8mn in April-June, up from $3.5mn a year earlier. Revenues from first-quarter sales arrived in April-June, supporting profits, and the costs of those sales were far lower than a year earlier.
The company said there have been no delays to payments for its oil, which Iraqi state-owned Somo sells under an interim arrangement that allowed exports to resume last September after a 2½-year halt.
Shamaran said the interim arrangements were recently extended, to 30 September.
