A consortium led by Dana Gas and Crescent Petroleum has inked a gas sales deal with the Kurdish Regional Government (KRG) to increase gas output by 63% in two years, Reuters reported.
The 20-year agreement will “enable production and sales of an additional 250 million standard cubic feet per day (mmscf/d) by 2021,” a statement said.
The agreement with the KRG aims to develop, produce, and sell petroleum products from the Khor Mor and Chemchemal fields.
Some ongoing plans will increase gas production from the Khor Mor field, reaching 650 mmscf/d by 2021 and 900 mmscf/d by 2022, the companies said.
The plans will cost around $700 million, adding two new production trains and drilling new wells to boost the output from its current level of 400 mmscf/d, the companies added.