[You must be registered and logged in to see this image.]
The Emirates Crescent expects to export gas from the Kurdistan Region within 5 years
Shafaq News/ The Emirates Crescent Petroleum announced that it may start exporting gas from Kurdistan Region in less than five years after meeting local needs.
The CEO of the Emirates Crescent Petroleum and its partners in the Pearl Petroleum consortium, Majid Jaafar, said, "The possibility of exporting gas exists in the long term, as it depends on demand, of course in Turkey and Europe," noting that "the long term can be faster (than five years) depending on demand. and the pace of development, but our priority is to meet local needs first in the Kurdistan Region and the rest of Iraq.”
Pearl Petroleum, a consortium led by Dana Gas and Emirates Crescent, is developing the Khor Mor field in a two-phase expansion phase aimed at increasing total production to around 1 billion cubic feet per day from around 440 million cubic feet per day.
In September, the consortium signed a $250 million financing agreement with the US International Development Finance Corporation to assist in the expansion of Mor Creek. The first 250 million cubic feet per day project will be operational in April 2023, with a delay of about a year due to COVID-19 restrictions in 2020. The second 250 million cubic feet per day project may start in less than two years after the current project.
"We have determined that the local market within the Kurdistan Region of Iraq exceeds 1 billion cubic feet per day," Jaafar added, "There has been interest from the federal government in Iraq to buy gas from Khor Mor, whether in the short or long term. But our immediate priority is It is to meet the needs within the Kurdistan Region of Iraq and then of course it is likely to be the rest of Iraq."
He pointed out that "the gas sales agreement for the second phase has not yet been signed, but it is likely that it will go to the Kurdistan Regional Government, or the Kurdistan Regional Government, and other industrial consumers in the region, including cement factories that burn fuel oil."
Jafar pointed out that "the company is looking for how to start an early production scheme there, and we are in talks with the Kurdistan Regional Government, which wants to buy this gas, and that may be 80 million cubic feet per day," noting that "the project options are being discussed to obtain some production." Early in less than two years, maybe in a year and a half, it can build up."
Jaafar stressed that "there are oil potentials in the two fields (Khor Mor and Chamchamal)," explaining that "we are still in the early stage, and there is still a lot to be done in the Khor Mor and Chamchamal oil."
In April 2007, Dana Gas and Crescent Petroleum entered into an agreement with the Kurdistan Regional Government regarding the exclusive rights to evaluate, develop, produce, market and sell petroleum from the Khor Mor and Chemchemal fields in the region. The other shareholders of the Pearl Consortium are OMV, MOL and RWE with a 10% stake each.
Al-Hilal also won in 2018 three patches in Iraq, one in the oil-rich Basra region and two in Diyala province, but the agreements have not yet been signed due to the successive government change, and the control of the Islamic State organization over large areas of Diyala, located northeast of the capital, Baghdad, during the war 2014-2017 with Iraqi forces.
Jaafar said, "We are ready to implement these projects. We were able to produce gas within a year, in our estimation, starting from 200 million cubic feet per day from Diyala," noting that "we do not understand the reason for the delay. While Iraq lost more than 3 billion dollars from the delay." not to sign these contracts.
[You must be registered and logged in to see this link.]
The CEO of the Emirates Crescent Petroleum and its partners in the Pearl Petroleum consortium, Majid Jaafar, said, "The possibility of exporting gas exists in the long term, as it depends on demand, of course in Turkey and Europe," noting that "the long term can be faster (than five years) depending on demand. and the pace of development, but our priority is to meet local needs first in the Kurdistan Region and the rest of Iraq.”
Pearl Petroleum, a consortium led by Dana Gas and Emirates Crescent, is developing the Khor Mor field in a two-phase expansion phase aimed at increasing total production to around 1 billion cubic feet per day from around 440 million cubic feet per day.
In September, the consortium signed a $250 million financing agreement with the US International Development Finance Corporation to assist in the expansion of Mor Creek. The first 250 million cubic feet per day project will be operational in April 2023, with a delay of about a year due to COVID-19 restrictions in 2020. The second 250 million cubic feet per day project may start in less than two years after the current project.
"We have determined that the local market within the Kurdistan Region of Iraq exceeds 1 billion cubic feet per day," Jaafar added, "There has been interest from the federal government in Iraq to buy gas from Khor Mor, whether in the short or long term. But our immediate priority is It is to meet the needs within the Kurdistan Region of Iraq and then of course it is likely to be the rest of Iraq."
He pointed out that "the gas sales agreement for the second phase has not yet been signed, but it is likely that it will go to the Kurdistan Regional Government, or the Kurdistan Regional Government, and other industrial consumers in the region, including cement factories that burn fuel oil."
Jafar pointed out that "the company is looking for how to start an early production scheme there, and we are in talks with the Kurdistan Regional Government, which wants to buy this gas, and that may be 80 million cubic feet per day," noting that "the project options are being discussed to obtain some production." Early in less than two years, maybe in a year and a half, it can build up."
Jaafar stressed that "there are oil potentials in the two fields (Khor Mor and Chamchamal)," explaining that "we are still in the early stage, and there is still a lot to be done in the Khor Mor and Chamchamal oil."
In April 2007, Dana Gas and Crescent Petroleum entered into an agreement with the Kurdistan Regional Government regarding the exclusive rights to evaluate, develop, produce, market and sell petroleum from the Khor Mor and Chemchemal fields in the region. The other shareholders of the Pearl Consortium are OMV, MOL and RWE with a 10% stake each.
Al-Hilal also won in 2018 three patches in Iraq, one in the oil-rich Basra region and two in Diyala province, but the agreements have not yet been signed due to the successive government change, and the control of the Islamic State organization over large areas of Diyala, located northeast of the capital, Baghdad, during the war 2014-2017 with Iraqi forces.
Jaafar said, "We are ready to implement these projects. We were able to produce gas within a year, in our estimation, starting from 200 million cubic feet per day from Diyala," noting that "we do not understand the reason for the delay. While Iraq lost more than 3 billion dollars from the delay." not to sign these contracts.
[You must be registered and logged in to see this link.]
Today at 8:18 am by wciappetta
» utube 5/23/24 MM&C Iraq Dinar - IQD Related Update - Global Interconnectivity - Timing - Delete Ze
Today at 7:13 am by Rocky
» utube 5/21/24 MM&C Oil - Revenues - Exchange Rate Recovery - IQD Inevitable
Today at 7:10 am by Rocky
» An economic expert calls on the government to extinguish private sector debt
Today at 7:07 am by Rocky
» Sanad: The government reduced provincial budgets to 2.5 trillion dinars
Today at 7:06 am by Rocky
» Increase in foreign remittance sales at the Central Bank of Iraq auction
Today at 7:04 am by Rocky
» Minister: The development road project will pass through the Kurdistan Region
Today at 7:03 am by Rocky
» Al-Handal stresses Iraq's commitment to combating money laundering.. What about inflation?
Today at 7:01 am by Rocky
» A parliamentarian acknowledges that the development path is exposed to international and regional pr
Today at 7:00 am by Rocky
» Electricity announces the stability of the arrival of Iranian gas quantities
Today at 6:59 am by Rocky
» Parliamentary Finance reveals the Kurdistan region's share of the budget
Today at 6:58 am by Rocky
» Hussein Al-Shahristani, head of an international organization concerned with nuclear disarmament
Today at 6:56 am by Rocky
» Advisor to the Prime Minister: A major campaign to reconstruct all affected areas will be launched s
Today at 6:54 am by Rocky
» The Prime Minister calls on the private industrial sector to invest in the raw materials available i
Today at 6:52 am by Rocky
» Association of Private Banks: Iraq is committed to combating money laundering and the banking sector
Today at 6:51 am by Rocky
» Khamenei to Al-Sudani: An informant will continue to cooperate with the Iraqi government
Today at 6:47 am by Rocky
» A new meeting of Parliamentary Finance to discuss the details of the budget schedules
Today at 6:45 am by Rocky
» Barzani calls on Washington for help: The Kurdistan region is in danger
Today at 6:44 am by Rocky
» Parliamentary Immigration emphasizes solving the problems of the displaced areas before finalizing t
Today at 6:39 am by Rocky
» Parliamentary Finance: We are determined to complete the budget schedules before the start of the le
Today at 6:37 am by Rocky
» An economic expert depends on the speed of approval of the budget schedules on the number of its art
Today at 6:36 am by Rocky
» A Sudanese advisor expects Parliament to approve the budget schedules before Eid... and warns of del
Today at 6:34 am by Rocky
» Its government's crisis... Kirkuk does not move and waits for the Sudanese
Today at 5:26 am by Rocky
» The Shiites are moving to remove him.. The parliamentary presidency is held by Al-Halbousi’s bullyin
Today at 5:25 am by Rocky
» With the Sunni consensus... Al-Maliki's coalition comments on the crisis of the presidency of Parlia
Today at 5:24 am by Rocky
» Observer: Parliament management needs broader powers
Today at 5:23 am by Rocky
» A politician calls for confronting Biden's decision on Iraq
Today at 5:22 am by Rocky
» Fair competition, where are we?
Today at 5:20 am by Rocky
» The service effort ends its work in one of the neighborhoods of the capital, Baghdad
Today at 5:18 am by Rocky
» Parliamentary Finance identifies the most prominent budget problems: Reducing the deficit requires a
Today at 5:17 am by Rocky
» Al-Handal stresses Iraq's commitment to combating money laundering.. What about inflation?
Today at 5:16 am by Rocky
» A huge government campaign to reconstruct the affected areas is about to be launched
Today at 5:15 am by Rocky
» Minister of Communications: The fiber optic project will be an alternative to WiFi towers
Today at 5:14 am by Rocky
» Maysan Oil implements 40 projects for the social benefits program
Today at 5:12 am by Rocky
» The Intelligence and Air Defense laws are on the parliamentary security table
Today at 5:11 am by Rocky
» Planning: The population will keep pace with global technological technologies
Today at 5:10 am by Rocky
» Work: Oil companies cheat with the number of foreign workers
Today at 5:09 am by Rocky
» Investment projects in Samarra
Today at 5:07 am by Rocky
» Combating terrorism is a five-year strategy to confront challenges
Today at 5:05 am by Rocky
» Iraq and the international economic map
Today at 5:04 am by Rocky
» Measures to prevent stock manipulation
Today at 5:02 am by Rocky
» Mazhar Muhammad Saleh: Increased bank lending activity increases growth and prosperity
Today at 5:00 am by Rocky
» Car specification
Today at 4:59 am by Rocky
» Experts: Iraq is outside the global inflation cycle
Today at 4:58 am by Rocky
» Iraq is discussing with the International Civil Aviation Organization the import of foreign experts
Today at 4:57 am by Rocky
» After its acceptance by the Financial Action Task Force, the Anti-Money Laundering Council reviews t
Today at 4:55 am by Rocky
» Within the 2024 budget.. Sudanese announces a package of projects for the upper threshold
Today at 4:53 am by Rocky
» Regional elections: warnings that the democratic process is at risk and demands for Washington’s int
Today at 4:52 am by Rocky
» High exchange rates in Baghdad...more than 145 thousand for every 100 dollars
Today at 4:51 am by Rocky
» More than 64 trillion... An economist indicates the risks of the 2024 budget deficit - urgent
Today at 4:50 am by Rocky
» Kurdish industrialists and professionals receive privileges from their counterparts in Baghdad
Today at 4:47 am by Rocky
» Planning: 78 patent certificates have been granted since the beginning of this year
Today at 4:47 am by Rocky
» The Ministry of Education and the European Union, together with UNESCO and UNICEF, launched the Equi
Today at 4:45 am by Rocky
» Deleting the 3 most important days in the history of Iraq.. The “religious holidays” law is an ackno
Today at 4:44 am by Rocky
» The blacklist for the “theft of the century” rises to nine names... secret investigations and waitin
Today at 4:43 am by Rocky
» International organization: 62% of displaced people and returnees in Nineveh have no source of incom
Today at 4:42 am by Rocky
» Neither military nor security...Biden's decision to extend the emergency in Iraq protects Baghdad's
Today at 4:40 am by Rocky
» In Al-Sumaria bulletin.. Parliament enacts the “Ghadir Holiday” and moves towards the 2024 budget
Today at 4:38 am by Rocky
» The Anti-Money Laundering and Terrorism Financing Council discusses the state’s efforts to combat cr
Today at 4:36 am by Rocky
» A government committee issues guidance regarding those who are hesitant about the issue of the Iraqi
Today at 4:34 am by Rocky
» From UNESCO.. The head of the Information Commission confirms Iraq’s commitment to media conventions
Today at 4:33 am by Rocky
» Is Iraq conducting negotiations with Germany to return its refugees?
Today at 4:30 am by Rocky
» The sources of power and authority in Iraq are a deep, not deep, country
Today at 4:29 am by Rocky
» Parliamentary Health sounds the alarm: influential figures protect unlicensed beauty centers
Today at 4:28 am by Rocky
» From Najaf.. Al-Sudani reiterates: Infrastructure projects must be implemented
Today at 4:26 am by Rocky
» Al-Sudani launches work on the plate glass production project in Najaf Industrial City
Today at 4:26 am by Rocky
» Iraq extends the memorandum to supply oil to Jordan
Today at 4:24 am by Rocky
» Parliamentary finances regarding the region’s share of the budget: amounted to 20 trillion dinars
Today at 4:23 am by Rocky
» utube 5/22/24 Iraqi Dinar $3.90 STARTS ON FOREX News Guru Intel Update Value IQD Exchange R
Yesterday at 8:15 am by Rocky
» Political bloc: Progress has lost all its cards in the House of Representatives
Yesterday at 6:56 am by Rocky
» The Finance Committee holds its first meeting to study the budget schedules
Yesterday at 6:54 am by Rocky
» Agricultural associations demand penalties against those who market spoiled wheat
Yesterday at 6:52 am by Rocky
» Central Bank sales increased at today's auction
Yesterday at 6:50 am by Rocky
» Iraq is close to completing a final plan to develop Baghdad International Airport
Yesterday at 6:48 am by Rocky
» The government takes a number of new decisions
Yesterday at 6:46 am by Rocky
» The first parliamentary meeting to discuss the general budget schedules... agreeing to host two mini
Yesterday at 6:43 am by Rocky
» Learn about dollar sales outlets for pilgrims
Yesterday at 6:40 am by Rocky
» It includes 6 paragraphs... The House of Representatives holds a new session
Yesterday at 6:33 am by Rocky
» The House of Representatives votes on the proposed Second Amendment Law to the Election Commission L
Yesterday at 6:31 am by Rocky
» Parliamentary Finance: Voting on the budget tables will not exceed next June 9
Yesterday at 5:22 am by Rocky
» Al-Rafidain Bank: Launching the process of selling the dollar to pilgrims exclusively at 3 thousand
Yesterday at 5:21 am by Rocky
» The rise of Bitcoin, the second largest cryptocurrency, jumps by more than 22%
Yesterday at 5:20 am by Rocky
» A representative from the front: Al-Halbousi directed the representatives to create chaos in Parliam
Yesterday at 5:17 am by Rocky
» Dhi Qar Energy announces the imminent establishment of a private company for the governorate’s elect
Yesterday at 5:14 am by Rocky
» The Sunnis are calling on the Shiites for help to resolve their differences, and Big Brother is resp
Yesterday at 5:12 am by Rocky
» A former MP reveals: Türkiye ignored solving the problem of oil exports... for this reason
Yesterday at 5:11 am by Rocky
» Parliamentary Legal: Political differences hinder the passage of important laws
Yesterday at 5:09 am by Rocky
» MP: Parliament does not have the right to propose amending the salary scale...for this reason
Yesterday at 5:08 am by Rocky
» Deputy: Parliament continues to perform its oversight and legislative duties
Yesterday at 5:07 am by Rocky
» Khamenei to Al-Sudani: Mokhbar has a great responsibility and will continue to cooperate with the Ir
Yesterday at 5:05 am by Rocky
» "Al-Eqtisad News" publishes the full decisions of the Council of Ministers session
Yesterday at 5:04 am by Rocky
» The Central Bank determines the branches for selling dollars to pilgrims
Yesterday at 5:02 am by Rocky
» Iraq intends to deliver the capacity of the northern refineries to 600 thousand barrels per day
Yesterday at 5:00 am by Rocky
» Referring the 2024 budget tables to Parliamentary Finance
Yesterday at 4:59 am by Rocky
» Former MP: Türkiye ignored solving the oil exports problem for this reason
Yesterday at 4:58 am by Rocky
» Parliamentary Electricity expects: power supply will reach 16 hours this summer
Yesterday at 4:57 am by Rocky
» In the document... Al-Mandalawi refers the draft Federal Budget Law 2024 to the Parliamentary Financ
Yesterday at 4:55 am by Rocky
» Parliamentary Finance Committee to / NINA /: Today the committee meetings will begin to discuss the
Yesterday at 4:54 am by Rocky
» Opening of the optical access network project today in Basra
Yesterday at 4:47 am by Rocky