Iraq's Kurdistan poised for bumper gas growth

Iraq's Kurdistan poised for bumper gas growth:

"Iraq’s Kurdistan is poised for a major increase in gas output following the settlement of a court case with developers who are now looking to unlock the full potential of the region’s large resources, investor Dana Gas told Reuters.

The semi-autonomous region settled a case with the Pearl Consortium last week by paying $1 billion to its members - Dana, Dana’s biggest shareholder Crescent Petroleum, Austria’s OMV, Hungary’s MOL and Germany’s RWE.

The consortium has a 10-year-old deal with Kurdistan’s government to develop the Khor Mor and Chemchemal fields - one of the largest gas deposits in Iraq, with reserves of 17 trillion cubic feet - enough to supply the whole of Europe for one year - and estimated resources of as much as 75 trillion."



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