Dana Gas, one of the largest private natural gas companies in the Middle East, has resumed production operations at the Khor Mor gasfield in the Kurdistan Region of Iraq.
Production was temporarily suspended after a liquid storage tank at the field was struck by a suspected drone on January 25, Dana Gas said in a statement on Friday to the Abu Dhabi Securities Exchange, where its shares are traded. No one was injured.
Khor Mor is one of the major operating fields in the Sulaymaniyah region of Kurdistan.
In 2007, Dana Gas and Crescent Petroleum signed an agreement with the Kurdistan regional government to appraise, develop, produce, market and sell hydrocarbons from Khor Mor and the nearby Chemchemal field.
Production started in 2008, sending gas to power stations in the cities of Chemchemal, Bazian and Erbil.
The Khor Mor processing plant produces natural gas liquids and liquefied petroleum gas, which are sold to the Kurdistan regional government and local traders, according to the Dana Gas website.
Initially, the Khor Mor plant produced around 300 million standard cubic feet per day (MMscf/d). Following several process improvements, production capacity was boosted by about 60 per cent from 305 MMscf/d in 2018 to 500 MMscf/d at the end of 2022.
The Khor Mor gasfield was attacked in 2023 and 2022 with no damage or casualties.
Set up in 2005, Dana Gas also has exploration and production assets in Egypt and the UAE.
The company's overall production in the first half of 2023 averaged 59,800 barrels of oil equivalent per day, a 2 per cent decrease as compared with the same period during the previous year.
Last year, it named former EnQuest executive Richard Hall as its chief executive, replacing Patrick Allman-Ward, who will stay on as an adviser to the board of Dana Gas.
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
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- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
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*November 15 to November 24
*Venue: Zayed Cricket Stadium, Abu Dhabi
*Tickets: Start at Dh10, from ttensports.com
*TV: Ten Sports
*Streaming: Jio Live
*2017 winners: Kerala Kings
*2018 winners: Northern Warriors
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Poacher
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
