Dana Gas achieved a production record from Pearl Petroleum’s Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) of 430 million cubic feet per day of gas (mmcf/d) on December 15.
The company’s average gas production amounted to 400 mmcf/d in Q4 2020, an 8% year-on-year (YoY) increase. Pearl Petroleum, which Dana Gas owns a 35% stake in, restarted the expansion project of Khor Mor Gas Plant on the same day after its suspension in March due to COVID-19. Dana Gas expects to complete the first 250 mmcf/d gas processing train in Q1 2023 and is also examining ways to reduce the schedule further.
It should be noted that Dana Gas expects the Kurdistan Regional Government (KRG) to pay its arrears totaling $30 million during 2021 as long as Brent remains above $50/barrel.
Dana Gas’s CEO, Patrick Allman-Ward, commented “Our joint operations at Pearl Petroleum continue to set new records with production output whilst maintaining an excellent HSSE track record, validating our long-term strategy to concentrate on further developing our world-class fields in the KRI. We are getting tremendous support from the KRG, which has given us the green-light to restart the civil engineering works under strict health protocols and controls.”