Crescent Petroleum, Dana Gas Kurdistan Output Reaches 70,000 boepd
Crescent Petroleum and its partner and affiliate Dana Gas, the region's first private-sector natural gas company, have announced that total production in their major gas operations in the Kurdistan Region of Iraq has grown steadily to reach 70,000 barrels of oil equivalent per day.
The two companies are joint operator of the Kor Mor field and have invested close to $1 billion in the region.
The production includes 330 million cubic feet of gas per day and 15,000 barrels per day of condensate liquids, and there are plans for further expansion.
In total, over 249 billion cubic feet of gas and 11.7 million barrels of condensate liquids have been produced by the companies since the start of production in October 2008.
The project partners had by the end of June invested a total of $963 million under contracts signed with the Kurdistan Regional Government (KRG) for the Khor Mor and Chemchemal blocks in April 2007.