Dana Gas announces 9 percent increase in Kurdistan Region production in 2021
ERBIL, Kurdistan Region — Dana Gas has announced a nine percent natural gas production increase in the first quarter of 2021 in comparison to the same period last year.
“Gross gas production in the KRI increased by 12% to an average of 439 MMscf/d (Million standard cubic feet per day) in the first quarter compared to 391 MMscf/d in the same period last year,” reads a statement by the UAE-based company on Tuesday. “This helped contribute to a 9% increase in total Group production to 35,300 boepd (Barrels Of Oil Equivalent Per Day) in the first quarter of 2021 versus 32,400 boepd in the first three months of 2020.”
The CEO of Dana Gas expressed his happiness about the performance of the company in the first quarter of 2021.
“We are very pleased with the robust performance from our assets in the KRI in the first three months of the year, which at current oil prices will have a very positive impact on our profitability,” said Patrick Allman-Ward, adding that it encourages them to grow investment in the region.
Pearl Petroleum, a consortium of five companies, led by Dana Gas and Crescent Petroleum “has received $151 million (AED 553 mm) from the sale of gas, condensate and LPG (Liquefied Petroleum Gas), in the Kurdistan Region of Iraq (KRI).”
The Dana Gas company, which produces 400 million cubic feet of natural gas million standard cubic feet per day (MMscf/d) in the Khor Mor refinery in the Kurdistan Region, planned to increase its natural gas production to 650 million MMscf/d in 2020 and 900 million MMscf/d by 2023.
In December, the company announced record high production in the Khor Mor plant, resuming expansion plans halted by coronavirus in March.
The UAE-based company, linked to Crescent Petroleum, has been operating in the Kurdistan Region since the Kurdistan Regional Government (KRG) began producing oil and gas independently of Baghdad in 2007, and selling independently in 2013.
“Dana Gas is the Middle East’s first and largest regional private sector natural gas Company established in December 2005 with a public listing on the Abu Dhabi Securities Exchange (ADX). It has exploration and production assets in Egypt, Kurdistan Region of Iraq (KRI) and UAE, with 2P reserves exceeding one billion boe and average production of 63,200 boepd in 2020,” according to their website.
“Gross gas production in the KRI increased by 12% to an average of 439 MMscf/d (Million standard cubic feet per day) in the first quarter compared to 391 MMscf/d in the same period last year,” reads a statement by the UAE-based company on Tuesday. “This helped contribute to a 9% increase in total Group production to 35,300 boepd (Barrels Of Oil Equivalent Per Day) in the first quarter of 2021 versus 32,400 boepd in the first three months of 2020.”
The CEO of Dana Gas expressed his happiness about the performance of the company in the first quarter of 2021.
“We are very pleased with the robust performance from our assets in the KRI in the first three months of the year, which at current oil prices will have a very positive impact on our profitability,” said Patrick Allman-Ward, adding that it encourages them to grow investment in the region.
Pearl Petroleum, a consortium of five companies, led by Dana Gas and Crescent Petroleum “has received $151 million (AED 553 mm) from the sale of gas, condensate and LPG (Liquefied Petroleum Gas), in the Kurdistan Region of Iraq (KRI).”
The Dana Gas company, which produces 400 million cubic feet of natural gas million standard cubic feet per day (MMscf/d) in the Khor Mor refinery in the Kurdistan Region, planned to increase its natural gas production to 650 million MMscf/d in 2020 and 900 million MMscf/d by 2023.
In December, the company announced record high production in the Khor Mor plant, resuming expansion plans halted by coronavirus in March.
The UAE-based company, linked to Crescent Petroleum, has been operating in the Kurdistan Region since the Kurdistan Regional Government (KRG) began producing oil and gas independently of Baghdad in 2007, and selling independently in 2013.
“Dana Gas is the Middle East’s first and largest regional private sector natural gas Company established in December 2005 with a public listing on the Abu Dhabi Securities Exchange (ADX). It has exploration and production assets in Egypt, Kurdistan Region of Iraq (KRI) and UAE, with 2P reserves exceeding one billion boe and average production of 63,200 boepd in 2020,” according to their website.