KRG-Pearl Reach 20yr Gas Sales Deal

The Kurdistan Regional Government (KRG) has reached a 20-year gas sales agreement (GSA) with the region’s key producer, the Pearl Petroleum consortium. Pearl (Dana Gas 35%, Crescent Petroleum 35%, OMV 10%, Mol 10%, RWE 10%) currently produces 400mn cfd from the Khor Mor gas field but plans to more than double this to 900mn cfd by 2022 ( MEES, 23 November 2018 ).

Under the $700mn expansion project, Pearl will install two new gas processing trains at Khor Mor, each with 250mn cfd capacity. The first is due online in 2021 and will bring production capacity up to 650mn cfd, while the second is slated to be completed by 2022. The expansion will also boost condensate production capacity from 15,000 b/d to around 35,000 b/d ( MEES, 15 February ). (CONTINUED - 336 WORDS)