New deal to unlock KRG gas production
Pearl Petroleum has signed a Gas Sales Agreement that promises to boost KRG natural gas output this year and more than double it by 2020.
KRG Minister of Natural Resources Ashti Hawrami (center left) and Majid Jafar, CEO of Crescent Petroleum and a director of Dana Gas (center right), sign a Gas Sales Agreement on Jan. 30, 2018. (Source: Crescent Petroleum/Dana Gas)
The autonomous Kurdistan Regional Government (KRG) has secured an agreement with its biggest natural gas investor to unlock additional production from the Khor Mor gas field, which had been tangled in legal disputes.
The deal promises to provide much-needed fuel supply to power plants and could help jump-start Kurdistan's natural gas sector, where investment has been stalled amidst legal and political disputes as well as uncertainty around commercial frameworks for monetizing production.
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