Development activities

Since the conclusion of the settlement agreement in 2017, Pearl has executed debottlenecking and bypass projects at the existing Khor Mor gas processing plant that resulted in a 50% increase in the plant’s production, Pearl also developed a detailed Field Development Plan (FDP) for the Khor Mor Field which 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.

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. In 2020 pearl completed a bypass project that helped increase production to 450 MMscf/d.