UK-listed Gulf Keystone, Norway's ShaMaran agree $601 million merger in Kurdistan

Impact · against what's priced in

The merger between Gulf Keystone and ShaMaran creates a consolidated Kurdistan entity with a $601 million valuation. This is a material structural change that should drive value through reduced overhead and improved EBITDA margins.

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In context

The agreed $601 million merger with ShaMaran is expected to reduce overhead costs and improve combined EBITDA margins for FY2027.

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• energy▲9%
• m and a
• oil
• kurdistan
• merger
• norway
• uk

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