Dana, Crescent Celebrate 5 Years Continuous Production in Kurdistan

Dana Gas and Crescent Petroleum celebrated Tuesday five years of continuous production in the Kurdistan Region of Iraq.

As joint operators of the Khor Mor field, the two companies are currently producing an average of 80,000 barrels of oil equivalent per day (boepd). With a total investment of $1.1 billion and total cumulative production of close to 100 million barrels of oil equivalent, the firms pointed out that this represents the largest investment in the Kurdistan region as well as the greatest amount of production.

Daily production includes 335 million cubic feet of gas per day and 14,100 barrels of condensate, according to Dana and Crescent. A maximum production rate of 87,700 boepd was also achieved. In total, more than 402 billion cubic feet of gas and 20 million barrels equivalent of liquids have been produced by the companies since the start of production in October 2008

The firms added that their operations have ensured almost continuous power supply for four million people in the Kurdistan region, in contrast to the electricity crisis that exists elsewhere in Iraq.

Majid Jafar, Crescent Petroleum CEO and managing director of the board of Dana Gas, commented in a statement:

"We are proud to be the largest investors in the Kurdistan Region's oil and gas sector, and the highest petroleum producers since our first production five years ago, which enables electricity supply for millions of citizens, transforming the development of the region and providing billions of dollars of ongoing fuel savings for the Kurdistan Regional Government."


Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Alam Maritim Bags EPCIC Contract from ... (Dec 2)
 -  EOR to Pay Lower Purchase Price for In... (Dec 1)
 -  Sterling Energy in Dispute with Camero... (Dec 1)
 -  Lekoil Acquires Afren's Stake in the O... (Dec 1)
 -  Muhibbah Says Malaysia's Ophir Field W... (Nov 30)

Most Popular Articles

From the Career Center
Jobs that may interest you
Naval Architect / Marine Engineer
Expertise: Marine Engineering|Naval Architecture|Subsea Engineering
Location: Houston, TX
Manager of Engineering
Expertise: Drilling Engineering|Engineering Manager
Location: Houston, TX
Technical Advisor
Expertise: Petroleum Engineering|Reservoir Engineering|Well Intervention
Location: Houston, TX
search for more jobs

Brent Crude Oil : $44.44/BBL 0.38%
Light Crude Oil : $41.85/BBL 0.48%
Natural Gas : $2.23/MMBtu 0.22%
Updated in last 24 hours