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ShaMaran Petroleum Corp. announces exclusive corporate sponsorship in a first-of-its-kind climate action program in Kurdistan

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ShaMaran Petroleum Corp.

Fasken advised ShaMaran Petroleum Corp. ("ShaMaran") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) on its exclusive corporate sponsorship in a first-of-its-kind climate action program in Kurdistan.

ShaMaran has become the exclusive corporate sponsor for the Hasar Vision 2025 Program, supporting the Hasar re-forestation project, a comprehensive multi-year urban re-forestation project.  This initiative is being developed by Hasar Organization for Earth Sciences ("Hasar"), a climate action non-government organization based in Kurdistan.

Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran commented: "ShaMaran as one of the earliest pioneer oil and gas companies in Kurdistan is very excited about this opportunity.  We are integrating it into ShaMaran's ESG policy to become a better citizen in Kurdistan. Environmental, social and governance considerations were very important in ShaMaran's decision to participate as exclusive corporate sponsor to the Hasar Vision 2025 Program. It will, among other activities, be planting over one million oak trees in the center of Erbil, the capital of Kurdistan, in order to reduce the impact of emissions in this urban setting. ShaMaran will also be assisting Hasar to secure carbon credit accreditation for the Million Oaks Project, a first in Kurdistan. Carbon credits will be sought and will be dedicated by ShaMaran to offsetting its carbon emissions for its activities in Kurdistan."

Hasar Vision 2025 Program is committed to four principal areas: carbon capture, water, renewable energy, youth, and climate change awareness. In its initial stage a youth focused organization was formed to raise awareness of climate change issues for the next generation of future leaders in Kurdistan and also to be a committed workforce to implement the Hasar Vision 2025 activities.  These activities will be dedicated towards reducing adverse effects of climate change through integrated projects conducted in Kurdistan.

Fasken advised ShaMaran with a team comprised of Abayomi Akinjide, Laura Bradley and Guy Giorno.


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