Dana Gas announces increase in Kurdistan Region production
ERBIL (Kurdistan 24) – Dana Gas, a Petroleum business company, in a statement on Wednesday, announced the increase of its production in the Kurdistan Region for the last year by 1%.
“Revenue rose 17% to AED 1.94 billion ($529mm) in 2022 compared to AED 1.66 billion ($452mm) in 2021 due to higher realized prices and production output in the Kurdistan Region of Iraq (KRI) [Kurdistan Region of Iraq],” the statement reads.
The Kurdistan Region production increased by 1% to 34,300 barrels of oil equivalent per day (BOEPD) in 2022, according to the statement.
In the second half of the year, the Khor Mor facility in the Kurdistan Region completed further plant de-bottlenecking enhancements, the statement added.
“The plant’s production capacity increased by 50 MMscf/d [Million standard cubic feet per day] to 500 MMscf/d. Gas production reached this new record of 500 MMscf/d on 14 January which will have a positive impact on production and revenues in 2023,” per the statement.
“In 2022, we managed to optimize our assets in the KRI, reaching record levels of production and increasing capacity by a further 50 MMscf/d following the completion of a by-pass project,” Patrick Allman-Ward, CEO of Dana Gas, said.
Dana Gas is the Middle East’s first and largest regional private-sector natural gas Company which was founded in 2005. Dana Gas and Crescent Petroleum made an agreement with the Kurdistan Regional Government (KRG) in 2007 and established The Kurdistan Gas Project.
The Khor Mor facility operated by Dana Gas was targeted several times with rockets by unknown armed groups.