Operations
KRI

Development activities

Since the conclusion of the settlement agreement in 2017, Pearl has executed a project to debottleneck the existing Khor Mor gas processing plant, has developed a detailed Field Development Plan (FDP) for the Khor Mor Field.

This envisages expanding production by building two additional gas processing trains, and has put in place an appraisal and development program for the Chemchemal Field which is leading to the completion of a Field Development Plan. The work program comprises the following:

  • Fast-track debottlenecking of the existing facilities by 90-100 MMscf/d completed Q4, 2018
    Drilling 2 appraisal wells in Chemchemal and up to 4 development and appraisal wells in Khor Mor, begun Q4 2018
  • Work-overs on the six producing wells in Khor Mor, begun Q1 2019
    Building of two 250 MMscf/d trains sequentially to expand gas production from Khor Mor by a further 500 MMscf/d, begun Q4 2018
  • Gas Sales Agreements (GSA) with the MNR have been completed for the gas from the debottlenecking project in January 2018, and for the first of the two further 250 MMscf/d expansion trains in March 2019

Growth

The Company will unlock multi-billion dollars’ worth of value through executing the Khor Mor and Chemchemal Field development activities. The initial phase of this production increase was the fast-track debottlenecking project of the existing Khor Mor gas plant. The expansion of the gas processing plant consisted of a series of plant additions and modifications to debottleneck throughput, raising output capacity by 30% from 305 MMscf/d to 400 MMscf/d, as well as a further 2,000 barrels per day of condensate, exceeding the initially set target of a 20-25% increase in production.

Current gross production is 106,000 boepd, making us the largest regional private sector upstream gas operation in Iraq today. Plans underway to increase current production from 400 MMscf/d to 900 MMscf/d by 2023 through the installation of the two 250 MMscf/d gas processing trains, which are expected to be completed in two phases in 2022 and 2023. This will increase the capacity to process gas and condensate from the Khor Mor Field by 500 MMscf/d and 20 kbbld respectively.