Wednesday, 08 December 2021 06:22 GMT

Dana Gas nets USD44m in dividends from shares in Kurdistan Pearl Petroleum

(MENAFN) Dana Gas was announced to have gained USD44 million in dividends during the January-June period from its share in Iraqi Kurdistan natural gas provider Pearl Petroleum.

The Middle East's most major private sector natural gas company holds 35 percent share in Pearl Petroleum, a consortium of five companies which includes the UAE's Crescent Petroleum.

The net share of production in Iraqi Kurdistan for the Sharjah-based company was said to have reached an average of 26,100 barrels of oil equivalent per day (beopd), an increase of 25,900 boepd last year during the same period.

Pearl Petroleum was unveiled to be now seeking a 170 percent boost in production by 2021 through the implementation of two new LPG processing trains.


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