Energizing the Kurdistan Region of Iraq’s Future
Pearl Petroleum is a 5-company consortium comprised of the two leading independent Middle Eastern oil and gas companies Dana Gas and Crescent Petroleum, partnered with three major European energy companies OMV, MOL and RWE.
The consortium is producing and developing natural gas assets in the Kurdistan Region of Iraq, delivering major economic and social benefits to the region and beyond.
Khor Mor Field: 9 years of continuous production
Engaging in the development, production and sale of natural gas since 2008, Pearl Petroleum remains the largest private investor in Iraq’s gas sector. Through the Khor Mor gas field in Kurdistan, we continue to produce over 80,000 barrels of oil equivalent per day (boepd) with plans for further expansion. Pearl Petroleum currently produces an average of 83,900 boepd. The daily production includes 330 million cubic feet of gas per day and 13,000 barrels of condensate, with an LPG capacity of over 1,000 tonnes per day. Pearl Petroleum’s total cumulative production from 2008 to September 2017 was more than 216.7 million boe, including 885 bcf of gas, 37.9 million barrels of condensate and 1.18 million tonnes of LPG.
RWEST acquires 10% stake in Pearl Petroleum
Pearl Petroleum operates two major gas fields in northern Iraq. Dana Gas and Crescent Petroleum, the original title holders for two major gas fields in the Country, has welcomed European partners to the consortium; OMV of Austria, MOL of Hungary and more recently RWEST of Germany.