Pearl Petroleum has announced a major $10.2 billion investment plan to expand natural gas production in the Kurdistan Region of Iraq over the next decade, in what is expected to become one of the region’s largest energy development programmes.
The 2026–2035 expansion plan aims to more than double output from 750 million to 1.65 billion cubic feet per day by scaling operations at the Khor Mor and Chamchamal fields in Sulaimani province.
According to the company, the project is expected to strengthen electricity supply, support thousands of jobs and deliver significant economic and environmental benefits.
The consortium, led by Dana Gas and Crescent Petroleum, said the investment would also include broader production targets in oil, condensate and liquefied petroleum gas as part of its long-term energy strategy.
A report prepared by PwC highlighted potential macroeconomic gains, including increased contribution to the Kurdistan Region’s GDP and the creation of tens of thousands of temporary and long-term jobs, with a strong focus on local employment.
More than 90 percent of positions are expected to be filled by local workers, while billions of dollars are projected to be directed into domestic supply chains and procurement.
The company also said the expansion would help reduce reliance on heavier fuels for power generation, potentially cutting carbon emissions and lowering fuel costs for the Kurdistan Regional Government over the coming decade.
Since its launch in 2007, the Kurdistan Gas Project has grown into a key pillar of the region’s energy sector, supplying the majority of local electricity and attracting billions of dollars in investment.
Officials say the new expansion marks a continuation of that trajectory, reinforcing the project’s role in both energy security and economic development in the region.
