Founded in 2007, HKN Energy is a privately held, independent energy company that was awarded a production sharing contract by the Kurdistan Regional Government (KRG), which possesses a 20 percent carried interest.
HKN Energy commenced exploration drilling of the Sarsang Block in 2010 and announced its first discovery, Swara Tika, in 2011. During the second quarter of 2014, HKN declared initial discovery well, Swara Tika-1, a commercial production well.
In late 2014, HKN announced its second discovery, East Swara Tika. In 2015, the KRG formally approved HKN Energy’s commercial development plan for both the Swara Tika and East Swara Tika discoveries.
HKN ended 2018 with a 62 percent PSC stake by acquiring an additional 20 percent from a prior co-venturer.
Currently, HKN produces from seven wells through three production facilities in two separate fields, and targets production reaching over 50,000 BOPD with the addition of a new 25k BOPD facility currently under construction.