Dana Gas, Crescent complete KM250 expansion project in Iraq

Core Insights - Dana Gas and Crescent Petroleum have initiated commercial gas sales from the KM250 expansion project at the Khor Mor facility in the Kurdistan Region of Iraq, enhancing processing capacity by 250 million cubic feet per day (mcf/d) to a total of 750 mcf/d, completed eight months ahead of schedule [1][2][4] Group 1: Project Overview - The KM250 project aims to meet Iraq's increasing power demand by supplying additional natural gas volumes [1][2] - The project, valued at $1.1 billion (ID1.44 trillion), received financial support from the Bank of Sharjah and the US Development Finance Corporation, along with proceeds from a $350 million senior secured bond issued by Pearl Petroleum [2][3] Group 2: Operational Achievements - The KM250 project employed over 10,000 workers and delivered more than 6,000 tonnes of steel and 6.2 million man-hours during peak construction [3] - Dana Gas and Crescent Petroleum took operational control of the project, allowing for focused delivery and quick issue resolution, which contributed to the project's early completion [4][5] Group 3: Production and Environmental Impact - The KM250 facility will produce 7,000 barrels per day of condensate and 460 tonnes per day of liquefied petroleum gas (LPG), enhancing existing outputs [4] - The facility incorporates advanced technology, including AI monitoring tools and high-efficiency compressors, aimed at minimizing environmental impact [5] Group 4: Future Plans - The partners plan to focus on further appraisal and expansion of the Khor Mor field and continue efforts at Chemchemal to unlock additional gas resources for Iraq [6]