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Agreement between Kurdistan and Pearl Petroleum to sell gas over 20 years

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Agreement between Kurdistan and Pearl Petroleum to sell gas over 20 years Empty Agreement between Kurdistan and Pearl Petroleum to sell gas over 20 years

Post by claud39 on Wed Mar 06, 2019 9:36 am

http://www.ikhnews.com/index.php?page=article&id=185978


Agreement between Kurdistan and Pearl Petroleum to sell gas over 20 years




06-03-2019 





Agreement between Kurdistan and Pearl Petroleum to sell gas over 20 years Image








Baghdad


The Kurdistan region signed a new agreement to sell gas with Pearl Petroleum, a consortium led by the UAE-based Crescent Petroleum and Dana Gas, for 20 years. Under the agreement, the company will increase gas production and sell it to the region by an additional 250 million standard cubic feet Daily by 2021.
According to a statement received by "News" a copy of it, "This agreement comes after the agreement reached between the parties in August 2017, and signed a gas sale agreement on 19 February 2019 Dr. Ashti Hawrami, Minister of Natural Resources on behalf of the Kurdistan Regional Government, , The Chief Executive Officer of Crescent Petroleum and a member of the Board of Directors of Dana Gas Managing Director on behalf of Pearl Petroleum, and after obtaining all necessary approvals for the agreement, including the approval of the Special Council for Oil and Gas Affairs in the Kurdistan Region and the Board of Directors of Pearl Petroleum, Time To ".
"The $ 700 million expansion project at Khorormor will include the addition of two new production units at Khorormor station as well as the drilling of new wells to raise current production rates from 400 million cubic feet per day to 650 million cubic feet per day," the statement said. 2021 under the new gas sale agreement, and 900 million cubic feet per day thereafter by 2022. These production aspirations are followed by the expansion of the Khormur plant, which was completed in November, which increased the plant's production by 30%. This project included upgrading the station and increasing production capacity In it, it worked To increase the current production levels to 106,000 barrels of oil equivalent per day, making this project the largest regional project for the special exploration and production of gas in Iraq today.
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