Business

Dana Gas, Crescent Petroleum achieve 50% gas production growth in KRI over past 3 years

Dubai – The KM250 Gas Growth Job is sustained by a $250 million funding contract for 7 years with the united state International Growth Financing Company

Dana Gas, the Center East’s leading openly detailed local gas business, and also its companion, Crescent Oil, the earliest personal oil and also gas business between East, have actually reported document sales gas manufacturing from their procedures in the Kurdistan Area of Iraq (KRI), getting to 452 million typical cubic feet of each day (MMscf/d) at the end of 2021.

The manufacturing landmark is the conclusion of many procedure enhancements at the Khor Mor gas plant, consisting of a bypass task finished in 2020 in addition to a debottlenecking program previously in 2018. With each other, the procedure enhancements have actually expanded the manufacturing by 50 percent from 305 MMscf/d in 2018.

Dana Gas and also Crescent Oil collectively run the Khor Mor and also Chemchemal gas areas in behalf of the Pearl Oil consortium, providing the gas which makes it possible for much required electrical power generation in the KRI, as well as additionally generating near 16,000 barrels of condensate and also 1,000 tonnes of LPG each day. The effective procedure enhancements will certainly be enhanced by the KM250 development task at the plant which is presently under application, and also will certainly boost complete ability by an added 55 percent to 700 MMscf/d by April 2023.

Significant jobs for the $630 million KM250 development task returned to in April, 2021 after a hold-up of one year as a result of the COVID pandemic. The task is currently on course for the brand-new target begin day of April 2023. As component of the development functions, the business is additionally preparing to pierce approximately 5 advancement wells, which are arranged to begin manufacturing in March 2022.

The KM250 Gas Growth Job is sustained by a $250 million funding contract for 7 years with the united state International Growth Financing Company (DFC) which was revealed in September 2021. After conclusion of the KM250 task, the companions additionally prepare an additional KM500 train that would certainly elevate manufacturing to nearly one billion cubic feet each day to fulfill climbing need for cleaner burning gas and also electrical power generation in the Kurdistan Area and also all of Iraq.

Majid Jafar, Chief Executive Officer of Crescent Oil and also board handling supervisor of Dana Gas, stated: “The accomplishment of this manufacturing landmark highlights the development we remain to make at Khor Mor to fulfill the quickly expanding need for gas in the KRI. In spite of the obstacles the entire globe has actually dealt with over the previous 2 years, we are happy to have actually proceeded supplying nonstop supply of clean-burning gas to sustain the KRI economic climate and also allow a healthy and balanced recuperation. On the other hand our significant development strategies at the Khor Mor and also Chemchemal areas to target one billion cubic feet each day in the coming couple of years will certainly allow enhanced solutions throughout the area for many years to find.”

Dr Patrick Allman-Ward, Chief Executive Officer of Dana Gas, stated: “This landmark is testimony to our individuals and also their effort making constant manufacturing development feasible at our Khor Mor gas plant. Our proceeded financial investments considering that 2018, significantly the Khor Mor de-bottlenecking and also bypass jobs, have actually enabled us to supply trustworthy materials of tidy power to sustain the KRI economic climate and also its individuals, with boosted financial and also ecological advantages which will certainly boost as we even more expand manufacturing.”

– Wam

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