Crescent Petroleum and Dana Gas achieve major production milestone in Iraq

In the Kurdistan Region of Iraq, Dana Gas and Crescent Petroleum, along with their partners in the Pearl Petroleum Consortium, announced on April 4, 2025, that cumulative production from the Khor Mor gas field has reached an impressive 500 million barrels of oil equivalent. This milestone reflects the level of growth and development in the region since the project began in 2008. The Khor Mor facility is significant because it supplies around 75% of the Kurdistan Region's electricity generation, benefiting over 6 million residents and contributing to the overall economic stability of Iraq. Investments exceeding US$3.5 billion have not only facilitated production growth but have also created more than 20,000 jobs in the region, enhancing livelihoods and fostering community development. The recent production figures include daily output of 525 million standard cubic feet of natural gas, a notable increase of 75% since 2017, alongside additional condensate and LPG production. This increasing capacity is a critical component for supporting the energy needs of the region, and further investments aim to expand sustainable energy solutions. The companies are also focused on future growth initiatives, notably the KM-250 project, which is expected to boost capacity by another 50% and has seen its completion timeline accelerated to the first quarter of 2026. This advancement is supported by a US$1 billion expansion commitment and includes financing from the US Development Finance Corporation. With the project advancing rapidly through simultaneous construction and commissioning efforts, the overall timeline has been significantly shortened, promising to enhance operational productivity. In addition to Khor Mor, Pearl Petroleum has started to develop the Chemchemal field. They announced plans to appraise the Chemchemal Cretaceous reservoir and initiate production of approximately 71 million standard cubic feet per day in 2026. A total investment of US$160 million will be allocated to drill new wells and build necessary infrastructure. The ongoing growth in the energy sector underlines the importance of the Khor Mor field and the commitment to expanding both fields is seen as pivotal for the economy of the Kurdistan Region and the entire country of Iraq.