Dana Gas boosts Kurdistan Region's power supply, reports strong collections in 2024
Despite a 7% decline in overall group production in 2024, Dana Gas saw a positive 4% increase in production in the Kurdistan Region, reaching 38,400 barrels of oil equivalent per day (boepd), up from 36,900 boepd in 2023.
ERBIL (Kurdistan24) — Dana Gas, a leading UAE-based petroleum company, continues to play a crucial role in powering the Kurdistan Region. Its Khor Mor Oil and Gas Field supplies over 500 million standard cubic feet per day (mmscf/d) of gas. This steady and affordable energy source supports four major power stations, generating approximately 2,800 megawatts of electricity—more than 75% of the Kurdistan Region’s total power supply.
The company’s ongoing KM250 expansion project will further enhance gas supply, strengthen economic growth, and ensure energy stability for millions of residents in the Kurdistan Region and neighboring areas.
Despite a 7% decline in overall group production in 2024, Dana Gas saw a positive 4% increase in production in the Kurdistan Region, reaching 38,400 barrels of oil equivalent per day (boepd), up from 36,900 boepd in 2023. This growth helped offset natural field declines in Egypt, where production fell by 25% to 16,450 boepd.
On the financial front, Dana Gas reported strong collections across its operations. In the Kurdistan Region, payments totaled AED 957 million ($261 million), reflecting the successful implementation of a new payment mechanism. In Egypt, the company collected AED 238 million ($65 million), including a $20 million payment in December.
As of the end of 2024, Dana Gas’s outstanding receivables stood at AED 246 million ($67 million) in the Kurdistan Region and AED 286 million ($78 million) in Egypt.
With ongoing investments in infrastructure and expansion projects, Dana Gas remains committed to enhancing energy security and economic development in the region.