Dana Gas has been active in the Kurdistan Region of Iraq since April 2007, when it entered into certain agreements with the Kurdistan Regional Government (KRG) of Iraq for the development of its substantial gas resources.
Dana Gas’ interests in the Kurdistan Region of Iraq are held via a 40% shareholding in Pearl Petroleum Company Ltd (“PPCL”), the partners being Crescent Petroleum 40%, OMV, 10% and MOL 10%. In May 2009, OMV acquired a 5% interest in PPCL from Dana Gas for a consideration of $175 million and MOL acquired a 5% interest in exchange for a 3% shareholding in MOL. Both companies acquired an equal interest from Crescent Petroleum.
Dana Gas, together with its partners, is one of the largest private foreign investors in the Kurdistan Region of Iraq. The Company was appointed to develop, process and transport natural gas from the Khor Mor Gas Field, and to also appraise the potential of the Chemchemal Gas Field, in order to provide natural gas supplies to fuel domestic electric power generation plants near Erbil and Suleymania which now provide electricity supplies to over 4 million Iraqis. This project has saved the KRG the need to use diesel for power generation with significant cost savings.
The fast-track development of the Khor Mor gas field and construction of a 176km natural gas transmission pipeline was completed in just 16 month and production of gas and condensate started in August 2008. A two train gas processing plant, with a capacity of 300MMscfpd, has been constructed at Khor Mor with LPG production commencing in January 2011.
Ongoing studies to evaluate the Khor Mor and Chemchemal reservoirs highlight the fact that these are two potentially world class gas fields. Whilst the existing wells on Khor Mor have been tested and have sufficient deliverability to meet the current requirements of the power stations, plans are in place for drilling new wells with the dual objective of delineating the fields and increasing deliverable capacity.
Dana Gas’ interests in the Kurdistan Region of Iraq are held via a 40% shareholding in Pearl Petroleum Company Ltd (“PPCL”), the partners being Crescent Petroleum 40%, OMV, 10% and MOL 10%. In May 2009, OMV acquired a 5% interest in PPCL from Dana Gas for a consideration of $175 million and MOL acquired a 5% interest in exchange for a 3% shareholding in MOL. Both companies acquired an equal interest from Crescent Petroleum.
Dana Gas, together with its partners, is one of the largest private foreign investors in the Kurdistan Region of Iraq. The Company was appointed to develop, process and transport natural gas from the Khor Mor Gas Field, and to also appraise the potential of the Chemchemal Gas Field, in order to provide natural gas supplies to fuel domestic electric power generation plants near Erbil and Suleymania which now provide electricity supplies to over 4 million Iraqis. This project has saved the KRG the need to use diesel for power generation with significant cost savings.
The fast-track development of the Khor Mor gas field and construction of a 176km natural gas transmission pipeline was completed in just 16 month and production of gas and condensate started in August 2008. A two train gas processing plant, with a capacity of 300MMscfpd, has been constructed at Khor Mor with LPG production commencing in January 2011.
Ongoing studies to evaluate the Khor Mor and Chemchemal reservoirs highlight the fact that these are two potentially world class gas fields. Whilst the existing wells on Khor Mor have been tested and have sufficient deliverability to meet the current requirements of the power stations, plans are in place for drilling new wells with the dual objective of delineating the fields and increasing deliverable capacity.
