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Dana Gas achieves $112 million in profits in nine months in Kurdistan
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2024-11-09 00:32
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2024-11-09 00:32
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Shafaq News/ The Emirati company "Dana Gas" announced on Saturday that its profits for the first nine months of this year amounted to 112 million dollars, with a 3% increase in its production of oil, gas and hydrocarbon derivatives from its gas fields in the Kurdistan Region.
The company explained in a statement, seen by Shafak News Agency, that this increase came in response to the increase in demand for gas from power plants in the region.
According to the statement, the company's daily production has increased to 38,200 barrels, as a result of the increasing demand for gas by power stations in Kurdistan.
Despite this increase in production, the company says its profits fell by 11.3% compared to the same period last year, due to a decline in the volume and price of liquefied petroleum gas (LPG) and some other hydrocarbon products.
In a related context, Dana Gas, in partnership with other companies within the Pearl Petroleum Alliance, plans to begin development work on the KM250 gas field in the Khor Mor area, reflecting the company’s commitment to expanding its production capacity to keep pace with the growing demand in the region.
Dana Gas is a private regional natural gas production company in the Middle East, established in December 2005 and listed on the Abu Dhabi Securities Exchange. The company has exploration and production operations in Egypt, the Kurdistan Region of Iraq and the United Arab Emirates with proven and probable reserves in excess of one billion barrels of oil equivalent.
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The company explained in a statement, seen by Shafak News Agency, that this increase came in response to the increase in demand for gas from power plants in the region.
According to the statement, the company's daily production has increased to 38,200 barrels, as a result of the increasing demand for gas by power stations in Kurdistan.
Despite this increase in production, the company says its profits fell by 11.3% compared to the same period last year, due to a decline in the volume and price of liquefied petroleum gas (LPG) and some other hydrocarbon products.
In a related context, Dana Gas, in partnership with other companies within the Pearl Petroleum Alliance, plans to begin development work on the KM250 gas field in the Khor Mor area, reflecting the company’s commitment to expanding its production capacity to keep pace with the growing demand in the region.
Dana Gas is a private regional natural gas production company in the Middle East, established in December 2005 and listed on the Abu Dhabi Securities Exchange. The company has exploration and production operations in Egypt, the Kurdistan Region of Iraq and the United Arab Emirates with proven and probable reserves in excess of one billion barrels of oil equivalent.
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