Sarsang Block

Multi-field oil development comprising the Swara Tika and East Swara Tika fields, located approximately 85 km northwest of Erbil in the Kurdistan Region of Iraq. Property covers 420 km2. Hosted in Jurassic and Triassic carbonates within the Zagros fold belt. Acquired 18% interest in September 2022 from TotalEnergies. Held in a joint venture with HKN (62%, operator) and the KRG (20% carried interest). First oil achieved in 2013 from early production facilities. Installed permanent production facility commissioned in Q3 2022, increasing processing capacity to over 50,000 bopd with 160,000 stb of storage. Production currently limited to local sales due to the closure of the Iraq-Türkiye pipeline.