of Kurdistan has has the largest gas fields in Iraq

[yota691]

of Kurdistan has has the largest gas fields in Iraq

 

 

 

 Twilight News    

 

 18 Hours Ago

 

 

Twilight News / announced Dana Gas, on Sunday, all weighted to be the Khor Mor field and in the Kurdistan Region چmچmal largest gas fields ever in the whole of Iraq, pointing out that it has maintained the stability of its production in the region. 
This came in a report to the company seen by Twilight News, pointed to the financial revenue during the second quarter and the first half of 2016, indicating that it has maintained the stability of its production in the region on the basis of two quarters. 
The company noted that its share of the total production , which currently stands at 35 percent , which is equal to 26,100 barrels of oil equivalent per day. 
He noted the company 's statement that the report "Gaffney Cline and Associates" issued in April of 2016 included reference to the fields of the Khor Mor and چmچmal belonging to thecompany , "Pearl Petroleum Limited" may be the largest gas fields ever in the province of Kurdistan and in Iraq in general. 
He said the company 's statement that the proven reserves and probable (2p) in the Khor Mor field amounted to 8.5 trillion cubic meters of gas and 191 million barrels of oil, the share of Dana Gas , 35 percent and estimated the equivalent of 3 trillion standard cubic feet of gas and 67 million barrels of condensate. 
And on چmچmal field, the statement added that the proved and probable reserves (2p) in thefield of 6.6 trillion standard cubic of gas and 119 million barrels of condensate feet, pointing out that the share of Dana Gas , amounting to 35 percent , equivalent to 23 trillion standard cubic feet of gas and 42 million barrels of capacitors. 
Meanwhile , said the CEO of Dana Gas, Patrick Germans, that the situation in Kurdistan and Egypt province led to the decline in the company 's dues in them, pointing out that the company made a profit were estimated seven million US dollars, while the company 's own profit in 2015 amounted to 134 Million dollars. 
He noted the Germans that the company benefits in the Kurdistan Region witnessed a decline reached $ 713 million during the fourth quarter of last year, while the company benefits in the same period of 2015 amounted to $ 727 million.

[nannab]

Good morning Yota, DV It is mind boggling the $ amount of money flying around Iraq

regarding buying and selling of oil and gas. 

[The Englishman]

Genel Energy one step closer to exporting gas from Iraqi Kurdistan

Posted on February 13, 2017 by Editorial Staff in Oil & Gas

Iraqi oil fields. Photo: AP

LONDON,— Genel Energy is one step closer to creating the “cornerstone” of gas exports to Turkey after finalizing the sharing contracts terms for the Miran and Bina Bawi gas fields in Iraq’s Kurdistan Region.

Genel Energy confirmed finalised documentation of previously agreed terms of Amended and Restated Production Sharing Contracts (‘PSC’s) and Gas Lifting Agreements (‘GLA’s) for both the Miran and Bina Bawi gas fields in Iraqi Kurdistan, the company said in a press release.

The statement said: “The Amended and Restated PSCs and GLAs for Miran and Bina Bawi incorporate the commercial terms as announced in the term sheets signed in 2015 by Genel and the Kurdistan Regional Government (‘KRG’) and reiterated in the Appendix below.

With the PSC and GLA terms formally confirmed, Genel will now be able to progress the project. The Company remains committed to developing these large scale, low-cost, onshore gas fields, which will form the cornerstone of gas exports to Turkey under the 2013 KRG-Turkey Gas Sales Agreement.

The GLAs contain conditions precedent, which, inter alia, include the execution of final agreements on the midstream gas processing facilities and pipeline transportation, the execution of the financing documents and the completion of updated competent person’s reports for Miran and Bina Bawi.

Both Genel and the KRG have the option to terminate the GLAs by February 2018. If the conditions precedent are not satisfied within 12 months, the KRG has a right to terminate the GLAs. In the event of termination, and a subsequent failure to conclude new gas lifting agreements within one year period, the KRG can also terminate the Miran and Bina Bawi PSCs. During the three year period following such a termination, Genel would have a right of first refusal to participate in the development of the Miran and Bina Bawi gas fields with a 49% working interest on the same terms offered to any third party.”

Murat Özgül, Chief Executive of Genel, said:

“We are very pleased to have signed definitive agreements for our gas project and are now focused on the next step of concluding negotiations with potential partners, and moving the gas project towards the FID. We are determined that 2017 will be a watershed year as we seek to create a gas business that will be transformational for both Genel and the KRG.”

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas fields, the Company is set to be a cornerstone provider of gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities within the Middle East and Africa.

http://ekurd.net/genel-closer-gas-kurdistan-2017-02-13