Tag Archives | Chemchemal

30% Gas Production Increase at Khor Mor Field

Dana Gas and Crescent Petroleum Announce 30% Gas Production Increase in Kurdistan Region Dana Gas, the Middle East’s leading publicly-listed regional natural gas company, and its partner Crescent Petroleum, have announced achievement of a 30% increase in production capacity at the Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate […]

KRG, Pearl agreement to boost Electricity Generation

The Kurdistan Regional Government (KRG) and Pearl Petroleum have signed an agreement to increase production of gas from the Khor Mor field later this year, to boost much needed electricity generation for the people of the Kurdistan Region and Iraq as a whole. The 10-year gas sales agreement will enable gas production from Khor Mor […]

KRG to pay $1bn to Pearl in “Full and Final Settlement”

The Kurdistan Regional Government (KRG) will immediately pay $1 billion to the Pearl Consortium, including Dana Gas, and its partners to settle a long-running legal dispute. In a joint press release, the Kurdistan Regional Government and Pearl Consortium announced the “full and final settlement” between the two parties. Below is the full press release: Settlement […]

Dana Gas Kurdistan Production Falls

In its Q1 Financial Report, Dana Gas reports that its production has fallen 16 percent in Iraqi Kurdistan: KURDISTAN REGION OF IRAQ – RESERVES UPDATE As reported previously Dana Gas and Crescent Petroleum, joint operators of Pearl Petroleum Company Limited (“PPCL”), estimate that P50 total geologically risked resources of petroleum initially in-place (PIIP) of the […]

Dana Gas Reaches Settlement With RWE

By John Lee. UAE-based Dana Gas has announced that it has reached an “amicable and mutually beneficial settlement agreement” with RWE’s trading unit RWE Suppy & Trading GmbH (RWEST) to resolve a dispute over its operations in Iraqi Kurdistan. The detailed terms of the settlement agreement are to be treated in accordance with the confidentiality […]

Dana Gas, KRG in Spat over Court Ruling

By John Lee. The Kurdistan Regional Government (KRG) has reacted angrily to a statement from Sharjah-based Dana Gas. Shares in the company jumped 13.7 percent on the Abu-Dhabi stock exchange on Sunday after the company won a ruling in the London Court of International Arbitration (LCIA) in its long-running dispute with the KRG in Iraq […]

Dana Remains Committed to Iraq, Despite Claim

By John Lee. Sharjah-based Dana Gas and its consortium partners, Crescent Petroleum and Pearl Petroleum, is pursuing $100 million (117 billion Iraqi dinars) in payments from the Kurdistan Regional Government (KRG). In a statement to the Abu Dhabi Securities Exchange (ADX), the company said: “The LCIA [London Court of International Arbitration] Tribunal recently ordered the […]

Dana Begins Arbitration Proceedings On Kurdish Contract

By Matthew Gayle. According to Iraq Oil Report, the consortium managing the only producing natural gas field in Iraq’s autonomous Kurdistan region is taking the Kurdistan Regional Government (KRG) to court, alleging overdue payments that are likely to total over $2 billion. Dana Gas, a United Arab Emirates fuel producer, began arbitration proceedings in London on rights […]

New College of Education Started in Chamchamal

On Thursday, two Kurdish higher education officials laid the foundation stone of the College of Education in Chamchamal [Chemchemal], 45 km east of the oil rich Kirkuk, 255 km north of Baghdad. The Kurdistan Region’s minister of higher education and scientific research and the president of Sulaimaniya University jointly laid the stone for the $3.4m […]