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US$600m investment to increase production 57% within 2 years Production to grow from 440MMSCFD to 690MMSCFD by April 2023 Force Majeure lifted with KRG and US Contractor Exterran after COVID Delay
Dana Gas, the Middle East s leading publicly listed regional natural gas company, and its partner Crescent Petroleum, the oldest private oil & gas company in the Middle East, have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due to the COVID pandemic but is now on track for a new target start date of April 2023, after agreement to lift the force majeure with both the Kurdistan Regional Government (KRG) an
Dana Gas et Crescent Petroleum reprennent le projet d expansion de Khor Mor
édité le 27/04/2021 - Plus de news de Dana Gas - Voir la fiche entreprise de Dana Gas
Dana Gas, the Middle Easts leading publicly listed regional natural gas company, and its partner Crescent Petroleum, the oldest private oil & gas company in the Middle East, have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due to the COVID pandemic but is now on track for a new target start date of April 2023, after agreement to lift the force majeure with both the Kurdistan Regional Government (KRG) and the contractor.
The construction work on the project was put on hold due to the Covid-19 pandemic. Capacity expansion is set to be completed by April, 2023 following an agreement with the Kurdish Regional Government and the companies.
Gas production by the Pearl Consortium accounts for more than 80 per cent of Iraqi Kurdistan s electricity generation, the companies said.
Over $2 billion-worth of investments are committed to Dana Gas Kurdish assets so far. The Khor Mor field produces 440 million cf/d of gas as well as 15,7000 barrels per day of condensate and 1,020 tonnes of liquefied petroleum gas. Condensate refers to a liquid associated with gas production that fetches a high price in the energy markets.
Dana Gas, Crescent Petroleum resume Khor Mor Expansion Project Mon 26th April 2021 | 06:15 PM
SHARJAH, (UrduPoint / Pakistan Point News / WAM - 26th Apr, 2021) Dana Gas and its partner Crescent Petroleum have announced the full resumption of the expansion project at the Khor Mor field in the Kurdistan Region of Iraq (KRI), which the companies jointly operate on behalf of the Pearl Petroleum consortium. The KM250 expansion involves further investment of US$600 million to add 250 million cubic feet per day of much-needed additional gas production to supply the local power stations. The project construction work had been put on hold due to the COVID pandemic but is now on track for a new target start date of April 2023, after agreement to lift the force majeure with both the Kurdistan Regional Government (KRG) and the contractor.