By: IranOilGas network

UAE’s Dana Gas revealed on Saturday that it increased its production of oil, gas, and oil derivatives in the Kurdistan region of Iraq by three percent.

The UAE Corporation said in a statement that the rise in production was driven by a growing demand for gas to operate power plants in Iraqi Kurdistan.

Additionally, the statement confirmed that Dana Gas output increased to 38,200 barrels per day. However, because the price of liquefied petroleum gas (LPG) and several other hydrocarbon products dropped, the company’s profits fell by 11.3 percent compared to the same period in 2023.

Dana Gas also intends to begin developing the KM250 gas field in the Khor Mor area in collaboration with other businesses in the Pearl Petroleum alliance.

The step demonstrates the company’s dedication to enhancing its production capacity in order to meet Iraqi Kurdistan’s growing demand.

Founded in December 2005, Dana Gas is a privately held regional natural gas production firm in the Middle East that is listed on the Abu Dhabi Securities Exchange.

The corporation operates in the United Arab Emirates, Egypt, and the Kurdistan Region of Iraq for exploration and production.