UAE headquartered Dana Gas have revealed oil production increases in Iraq's Kurdistan region, with the company now achieving 70,000 barrels per day (bpd) of crude oil.
The news follows gas production increases of 30% revealed by the company last month at the regions Khor Mor gas field, which Dana jointly operates with Crescent Petroleum.
In a statement, Dana Gas CEO Patrick Allman-Ward commented "We remain excited about the long-term future of our world-class assets in the region.", whilst also disclosing that the company has released new investment to achieve further production increases to double the current levels.
Estimates of recoverable reserves for the Kurdistan Region are at 45 billion barrels of oil and 5.66 trillion cubic meters of gas.
Source: Kurdistan 24