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Duo prime Kurdish gas pumps
29.7.2008
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July 29, 2008
Erbil-Hewler, Kurdistan region "Iraq", —
United Arab Emirates-based Crescent Petroleum and
its affiliate Dana Gas will begin supplying natural
gas in Iraq's Kurdish region in the coming weeks,
the pair said today.
The $650-million project will initially supply 150
million cubic feet per day to Kurdish power plants,
rising to 300 MMcfd early next year, the companies
said in a statement.
Dana and Crescent signed the deal to redevelop the
Khor Mor field in the Kurdistan region to supply gas
to the power plants in April 2007. The field was
shut after the first Gulf War in 1991.
The two companies also signed up to evaluate the
region's gas reserves and to build a large gas-fed
industrial complex called Kurdistan Gas City,
Reuters said.
Initial investment in the basic infrastructure for
the complex would be $3 billion,www.ekurd.net
the companies said. They
gave no further details on how much of the $3
billion Crescent and Dana would contribute.
The semi-autonomous Kurdistan regional government
has allocated land for the complex, which the
companies said would eventually attract
more than $40 billion
in foreign direct investment.
The complex will house at least 20 large
petrochemical and heavy manufacturing plants, they
said.
Crescent and Dana have formed a joint venture, Gas
Cities, to develop the complex and others in the
Middle East, North Africa and South Asia, the
companies said.
Copyright, respective author or news agency, Reuters
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