Dana Gas announced its financial results for the first half of the current year, highlighting strong Kurdistan gas production. The company revealed that gas output in the Kurdistan Region exceeded 500 million cubic feet during this period. Revenues reached $171 million, reflecting a solid and consistent performance for the company amid challenging market conditions.
In the second quarter, Dana Gas focused on carrying out important maintenance work to sustain production levels. This operation was completed in April without disruption to overall output. Following the maintenance, Kurdistan gas production levels returned to normal, ensuring a steady supply to customers and supporting market demand. The company continues to prioritize operational efficiency and reliability to maintain these production standards.
Furthermore, Dana Gas emphasized progress on the Khor Mor Field Development Project, known as KM250. Due to the rapid pace of work, the project is expected to finish ahead of schedule. This development is crucial as it will increase gas production within Kurdistan by 50%, marking a significant boost to the company’s overall capacity. This expansion demonstrates Dana Gas’s commitment to enhancing local energy resources and meeting growing demand.
Dana Gas also focused on the Chemchemal field, where it invested $160 million this year. The investment aims to raise daily natural gas production to 75 million cubic feet. Notably, gas output from Chemchemal has already risen by 75% compared to 2017 levels. This increase is another important contributor to growing Kurdistan gas production and strengthens the company’s market position.
Overall, Dana Gas continues to strengthen Kurdistan’s gas production through its strategic projects and sustained investments. These efforts position the company well for future growth in the region, promising more reliable energy supplies and enhanced operational performance moving forward.
