Page 12 - MEOG Week 16 2021

MEOG NEWS IN BRIEF MEOG

COMPANIES said: “We are very pleased with the robust with chrome and restrictions on the use
performance from our assets in the KRI in the of drilling services by contractors abroad,
Dana Gas KRI collections first three months of the year, which at current relying on knowledge and management
ability, engineering staff, drilling operations
oil prices will have a very positive impact on
at $53 million (AED 194 mm) our profitability. and rigging of DCI and using the facilities,
expertise, knowledge and experience of
Given the Kurdistan Regional
year-to-date Government’s continued commitment to pay local contractors to provide goods and
technical services, the necessary measures
down past receivables, we expect to receive
Dana Gas PJSC (the “Company”), the Middle the balance of overdue receivables from the were taken to continue work such as design
East’s largest regional private sector natural KRI mid-year or shortly thereafter. and construction of rig drilling fluid agitator
gas company, announces that year-to-date Our achievements in increasing our system which led to completion of SIE-E1P6
Pearl Petroleum Company Limited (‘Pearl production from the KRI over the past year well operation.
Petroleum’) has received $151 million (AED and the sustained collections record gives us The CEO of Drilling International Limited
553 mm) from the sale of gas, condensate and confidence in the continuing investments we said: “The SIE-E1P6 well has been put into
LPG, in the Kurdistan Region of Iraq (KRI). are making in our future growth plans.” operation after the test operation with an
All invoices from the KRG continue to be DANA GAS approximate daily production of 2,000 barrels
settled in full and in a timely manner. of crude oil.”
Dana Gas is a 35% shareholder in Pearl He noted: “Due to the use of optimal
Petroleum and accordingly its share of KRI OIL design and the best equipment and services
collections year-to-date is $53 million (AED available in the project and given the
194mm). Of Pearl Petroleum’s total collections Esfand well flows at 2,000 production area equal to 942 meters, this well
this year, $24.6 million was received in respect can have the highest and longest efficiency for
of overdue receivables, of which Dana Gas’s bpd the Iranian Offshore Oil Company compared
share was $8.6 million. Pearl Petroleum’s to the E1P5 well with production area of 467
overdue receivables from the KRI stand at $42 The SIE-E1P6 well of Esfand offshore oilfield meters.”
million following the most recent payment, was put into operation with an approximate SHANA
with Dana Gas’s share at $14.8 million. 2,000 b/d of crude oil production capacity.
At the current oil prices the balance of According to Petro Iran, Hamidreza Yumna field output in March
KRI overdue receivable is expected to be Saghafi, CEO of Drilling International Limited
settled during the third quarter of this year. (DCI), announced the news, saying his at 12,672 bpd
A significant production increase in the KRI company, as the contractor of the Siri EPDF
occurred in the fourth quarter of 2020 after project, in accordance with the obligations Masirah Oil Limited said Tuesday that gross
the Khor Mor by-pass debottlenecking project mentioned in the contract with the Iranian oil production in March 2021 from its Yumna
was completed in July. Offshore Oil Company, as the employer of the Field in offshore Block 50 Oman, amounted to
The Company has continued to deliver project, installed the DCI-1 offshore drilling 12,672 stock tank barrels per day (stb/d).
solid operational performance in the first rig on the Ilam 1 platform and tapped the On March 17, 2021, Masirah Oil Limited
three months of 2021. Gross gas production in capabilities and expertise of local contractors announced the completion of the upgrade
the KRI increased by 12% to an average of 439 and experts for driving 26-inch threaded to the Yumna Field process facilities, which
MMscf/d in the first quarter compared to 391 conductor pipes for the first time in Iran up to has more than doubled the liquid handling
MMscf/d in the same period last year. This a depth of 150 meters, which made it possible capacity on the Mobile Offshore Production
helped contribute to a 9% increase in total to drill the SIE-E1P6 production well in the Unit (MOPU) to 30,000 barrels per day, to
Group production to 35,300 boepd in the first platform. cater to the increased production from the
quarter of 2021 versus 32,400 boepd in the He continued: “Despite some restrictions three Yumna production wells, the company
first three months of 2020. such as problems in supplying foreign-made said. Production was shut down for a few days
Dana Gas CEO Dr Patrick Allman-Ward goods such as coiled tubes and liner casing during the upgrading period in the month of

P12 www. NEWSBASE .com Week 16 21•April•2021