US Investors Launch Miran Energy to Develop Strategic Gas Field in Kurdistan Region
The Miran Gas Field, located in the western part of the Kurdistan Region, is estimated to hold up to 8 trillion standard cubic feet (scf) of recoverable natural gas.
ERBIL (Kurdistan24) — In a major boost to the Kurdistan Region's energy sector, US-based companies HKN Energy and ONEX Group have announced the formation of Miran Energy, a new joint venture established to develop the Miran Gas Field. The announcement follows the signing of a binding term sheet with the Kurdistan Regional Government (KRG), marking a pivotal step toward unlocking one of the region’s most promising natural gas reserves.
The Miran Gas Field, located in the western part of the Kurdistan Region, is estimated to hold up to 8 trillion standard cubic feet (scf) of recoverable natural gas. The phased development of the field is expected to generate more than $40 billion in long-term value, positioning the project as a cornerstone of the Region’s future energy security and economic growth.
“This agreement marks a significant milestone not only for our companies, but for the energy future of the Region,” said Russell Freeman, CEO of HKN Energy. “Through Miran Energy, we are combining the strengths of HKN and ONEX to responsibly develop one of the Region’s most strategic gas resources.”
The project will be rolled out in multiple stages, with initial gas production focused on meeting domestic energy needs. Over time, the venture also aims to address regional and international demand, reinforcing the Kurdistan Region’s role as a key energy player in the Middle East.
Officials say the initiative reflects the deepening cooperation between American investors and the KRG to advance sustainable, long-term energy development in the Region.
About the Partners
Miran Energy is a joint venture between HKN Energy and ONEX Group, formed specifically to develop the Miran Gas Field in collaboration with the KRG. The venture leverages both companies' technical expertise and long-term investment vision to deliver responsible energy solutions.
HKN Energy is an independent energy company engaged in the exploration and development of oil and gas in the Kurdistan Region. The company emphasizes environmental responsibility and strong partnerships with local communities.
ONEX Group is a diversified investment firm with interests across energy, infrastructure, and development sectors throughout the EMEA region. The company works closely with public and private stakeholders to drive transformative, long-term projects.
This landmark agreement underscores the Kurdistan Region’s potential as a growing hub for energy investment and development.
