About Pearl Petroleum

In 2007, Dana Gas entered into agreement with the Kurdistan Regional Government of Iraq for the appraisal and development of the Khor Mor and Chemchemal gas fields; two major gas fields in the region. Under the terms of the agreement, Crescent Petroleum and Dana Gas were given exclusive rights to appraise, develop, process, market and sell petroleum from the substantial Khor Mor and Chemchemal blocks, and as a first phase to provide natural gas supplies to fuel two major domestic electric power generation plants being built in Erbil and Chemchemal, as well as for local industries and export.


Pearl Petroleum was founded in 2009 as the company assigned with the interests of its joint operators Dana Gas and Crescent Petroleum. Later that year, OMV of Austria and MOL of Hungary, two major European energy companies, each became 10% shareholders in Pearl Petroleum.


The consortium has more recently welcomed RWEST of Germany, who had also acquired a 10% share in the company in 2015.

Shareholders

Concession Map

Khor Mor and Chemchemal are major gas fields in northern Iraq.



Badr H. Jafar

Chairman of the Board

Majid H. Jafar

Director

Dr. Patrick Allman-Ward

Director

Matthias-Dittrich
Matthias Dittrich

Director

Erwin Kroell

Director

Sieber Florian

Director

Thomas S. Watts

Managing Director

Mohammad E. Makkawi

Director

Iman Hill

Director

Duncan Wilson Maclean

Director

Operations

Kurdistan Gas Project

Pearl Petroleum’s investment in the Kurdistan Region of Iraq's (KRI) gas project represents one of the largest private sector investments in the KRI’s oil and gas sector and provides plentiful, reliable and affordable electricity supply to over four million Iraqis. It is also achieving over US$ 3.4 billion of recurring annual savings in fuel costs for the Kurdistan Regional Government (KRG) because of the migration from diesel-to-gas to fuel the power plants. The direct project benefits to the KRG arising from this migration from inception to 2014 is c.$15.9bn. From an environmental perspective, the reduction of greenhouse gas emissions as a result of this switch at both power stations is valued at about $300 million per annum.

+ Project Gallery

Project Details

The first stage of the Khor Mor field development involving the hook up, testing and re-commissioning of existing gas wells, acquiring 2D seismic, installing gas separation and treatment facilities and installation of 180kms of pipeline was completed in a record time of 15 months and first gas deliveries to Erbil commenced in October 2008 with the help of an Early Production Facility (EPF). The gas is pumped via the 180km pipeline to two power plants in Erbil and Suleymania.The pipeline passes close to other gas fields and will have spare capacity to transport additional volumes of gas at a later stage.

The second stage which involved the installation of a 2-train liquid petroleum gas (LPG) plant has also been completed in 2011. The ultimate gas production capacity of the LPG Plant is 300MMscf/day, and further processing capacity can be added to handle additional gas quantities as they become available.

Future Plans

While the construction phase of the project generated significant direct and indirect benefits to the Kurdistan Region of Iraq’s economy, the full economic and social impact will be realized with further development of the Khor Mor and Chemchemal fields, including increased supply of electricity to support the growth of the local economy.

In addition to increasing gas supply for domestic market and industry use, Pearl Petroleum is also developing a substantial export scheme to neighboring markets as well as markets further afield.

News



Contact



PEARL PETROLEUM CO. LTD.

P.O. Box 5766

Sharjah

United Arab Emirates

Tel: +971 6 5562011

Fax: +971 6 5562012


Can't read the above security code? Refresh