Monday, January 17, 2022

Baghdad

Crescent Petroleum, Dana Gas reaches 50% gas production growth in Kurdistan, Iraq

 Crescent Petroleum, Dana Gas reaches 50% gas production growth in Kurdistan, Iraq

The Khor Mor Gas Processing Plant jointly operated by Crescent Petroleum and Dana Gas in northern Iraq.

Sharjah (IraqiNews.com) – Crescent Petroleum and Dana Gas reported record sales gas production from their operations in the Kurdistan Region of Iraq (KRI), hitting 452 million cubic feet of gas per day (MMscf/d) towards end of 2021.

The Khor Mor gas plant, jointly operated by Dana Gas and Crescent Petroleum, recently went through new developments such as a bypass project finished in 2020 and a debottlenecking programme in 2018. Thanks to these developments, the oil & gas company’s production grew 50% from 305 MMscf/d in 2018 to 452 MMscf/d in 2021.

Majid Jafar, CEO of Crescent Petroleum and Board Managing Director of Dana Gas, said: “The achievement of this production milestone underscores the progress we continue to make at Khor Mor to meet the rapidly growing demand for natural gas in the KRI. Despite the challenges the whole world has faced over the past two years, we are proud to have continued delivering uninterrupted supply of clean-burning natural gas to support the KRI economy and enable a healthy recovery.”

“This milestone is testament to our people and their hard work making consistent production growth possible at our Khor Mor gas plant. Our continued investments since 2018, notably the Khor Mor de-bottlenecking and bypass projects, have allowed us to deliver reliable supplies of clean energy to support the KRI economy and its people, with enhanced economic and environmental benefits which will increase as we further grow production,” said Patrick Allman-Ward, CEO of Dana Gas.

Dana Gas and Crescent Petroleum also operate the Chemchemal gas field on behalf of the Pearl Petroleum consortium, which comprises Dana Gas, Crescent Petroleum, OMV, MOL, and RWEST. The gas supplies from Chemchemal and Khor Mor fields provide compulsory electricity generation in northern Iraq.

According to Dana Gas and Crescent Petroleum, construction for the $630m Khor Mor 250 expansion project resumed in 2021 and anticipates the start date will be around April 2023. The expansion also includes preparations to drill up to five development wells that are planned to begin production in March 2022. The project is backed by a $250m financing agreement with the United States International Development Finance Corporation (DFC).

Our major expansion plans at the Khor Mor and Chemchemal fields to target 1 billion cubic feet per day in the coming few years will enable improved services across the region for years to come,” added Jafar.  

Founded in 2009, the Pearl Petroleum consortium has invested $2.3 billion to date. The investments went towards the Khor Mor and Chemchemal gas fields, with total cumulative production of over 360 million barrels of oil equivalent of natural gas and liquids.