Dana Gas and its partner, Crescent Petroleum, have reported record sales gas production from their operations in the Kurdistan Region of Iraq (KRI), reaching 452 million cubic feet of gas per day (MMscf/d) at the end of 2021. The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including […]
By John Lee. UAE-based Dana Gas is reported to be considering spinning off its upstream business, which would include its 35-percent stake in Pearl Petroleum, which owns the righs to the Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI). TradeArabia quotes Hamid Jafar, Chairman of Dana Gas, as saying: "We […]
Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, announced that in the first nine months of 2019 collections in Egypt, the UAE and from its share of Pearl Petroleum Company Limited's sales in the Kurdistan Region of Iraq (KRI), increased 16.7% year on year to $230 million (AED 844m). Dana […]
Dana Gas has announced that its share of the proved plus probable (2P) hydrocarbon reserves at Pearl Petroleum Company's Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI) have increased by 10 percent following the recent certification of reserves by Gaffney Cline Associates ('GCA'). 2P Reserves Upgrade The independently audited report, […]
By John Lee. Pearl Petroleum is reportedly planning to raise additional funding for its drilling and development in Iraqi Kurdistan, According to Reuters, Patrick Allman-Ward, the chief executive of Dana Gas, which is the majority owner of Pearl Petroleum, told reporters that the funding will "comprise a mix of bank debt, a bond, Exim bank […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
