Dana Gas and Crescent Petroleum resume expansion of Kurdistan Region’s Kor Mor field
ERBIL (Kurdistan 24) – Dana Gas and its partner Crescent Petroleum announced on Monday that they have resumed an expansion project in the "Kor Mor" gas field in the Kurdistan Region of Iraq.
The project involves an additional $600 million in investment to increase gas production by 250 million standard cubic feet per day to meet the urgent domestic need for energy supplies, according to a press release by the two companies, which operate on behalf of the Pearl Petroleum consortium.
The construction portion of the project had been postponed due to the coronavirus pandemic and has now resumed with the goal of starting production in April 2023. This came following an agreement with the Kurdistan Regional Government and the contractor to declare a state of force majeure.
The gas produced by the two companies covers more than 80 percent of the electricity production operations in the region.
The average daily production in the Kor Mor field is 440 million cubic feet of natural gas, in addition to 15,700 thousand barrels of condensate and 1,020 tons of LPG, or a total of 110,400 thousand barrels of oil equivalent per day, making it the highest production project in the region and the largest project undertaken by a private company to produce and develop gas in Iraq.
Plans have been drawn up to boost the production of the "Kor Mor" project by adding a second unit with a capacity of 250 million cubic feet, which will raise the total gas production of the project to about one billion cubic feet per day by 2024.
Majeed Jafar, CEO of Crescent Petroleum and Managing Director of Dana Gas, said “after a year of delayed business as a result of the pandemic, the expansion project in Kor Mor has been fully resumed and we have invested $ 600 million to raise the level of gas production by nearly 60 percent within Two years from today to boost domestic electricity supply.
Editing by Khrush Najari