The project partners had by the end of June invested a total of $963m under contracts signed with the Kurdistan Regional Government (KRG) for the Khor Mor and Chemchemal blocks in April 2007.
Major achievements of the project so far include: installing a 180km gas pipeline across challenging mountainous terrain that required the clearing of minefields; first gas production after only 16 months; drilling successfully to tertiary reservoir formations at depths of 2,300 metres, and importing and installing over 64,000 tonnes of equipment in over 3,500 truck-loads, and state-of-the-art gas processing plant imported from the USA.
Marking the production milestone, Mr. Rashid Al-Jarwan, Executive Director of Dana Gas, said:
"This important milestone has been achieved with the cooperation and support of the KRG, as well as our partners, contractors and local staff. In addition regular payments are now being received by the producing companies, and we are working with the KRG to improve and resolve the outstanding receivables."
During the project's construction phase, work opportunities were provided for over 2,000 Iraqi workers from all ethnic groups and sects, supported by expatriate workers from over 20 countries regionally and worldwide.
The companies have successfully implemented a nationalization programme, and already achieved the target of 80% local staff ratio in their operations by the end of 2011.
Crescent Petroleum and Dana Gas have also implemented a corporate social responsibility programme to support the local communities, including providing school supplies, drinking water treatment, generators and fuel enabling 24 hour electricity for the local villages, mobile medical units, and youth sports facilities.
These initiatives are assisting the local communities in improving their standard of living, health, well-being, security and stability and the development of human capital in the Kurdistan Region.
(Source: Crescent Petroleum)
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