Khor Mor gas expansion project restarts Dec. 15
Khor Mor production hits record 430MMcf/d on Dec. 15
Kurdistan to pay arrears provided Brent crude tops $50/b
Dubai — Dana Gas, the UAE-based energy producer with a focus on operations in Iraq's semi-autonomous Kurdistan region, has restarted a key gas expansion project in the area as it reached record output levels from the Khor Mor field.
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Register NowDana Gas, which achieved a record level of gas production of 430 MMcf/d at Khor Mor on Dec. 15, also restarted on the same day work to its expand capacity by 250 MMcf/d by the first quarter of 2023, it said in a statement on Dec. 20.
As of Dec. 15, fourth quarter average gas production reached 400MMcf/d, an 8% increase from a year-earlier period, it added.
The first phase of expansion of Khor Mor gas production by 250 MMcf/d to 650 MMcf/d, which was slated by the first quarter of 2022, was delayed due to the COVID-19 pandemic restrictions on travel and border closures.
Abu Dhabi-listed Dana Gas has a 35% stake in the Pearl Consortium, which mainly produces gas and associated liquids from the Khor Mor and Chemchemal fields in the Kurdish region alongside the UAE's Crescent Petroleum, Austria's OMV, Hungary's MOL and Germany's RWE.
The second phase of the Khor Mor gas expansion from 650 MMcf/d to 900 MMcf/d will most likely occur in fourth quarter of 2025, Patrick Allman-Ward, CEO of Dana Gas said Nov. 12.
Second phase
Dana Gas' Q3 production from the Kurdish region climbed 6% year-on-year after completing a project that added more gas.
Third quarter output was 32,400 boe/d after the successful completion of the plant bypass project, which added about 30 MMcf/d of additional gas.
Nine-month production in the region was flat at 31,900 boe/d, it added.
Dana Gas expects the Kurdistan Regional Government to pay arrears as along as Brent oil prices remain above $50/b, it said on Dec. 15. The company has $30 million in outstanding payments for the period of Dec. 2019 to Feb 2020.
"Dana Gas notes Pearl Petroleum's confirmation of receipt of a payment plan proposal from the KRG to pay down past receivables during 2021 as long as Brent remains above $50/bbl," it said. "Pearl Petroleum continues to engage constructively with the KRG on this matter to ensure timely payment. The KRG has maintained regular monthly payments since March 2020."
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