Crescent Petroleum Completes First Phase Of Seismic Exploration In Khashim Al Ahmer Field, Diyala

Crescent Petroleum has completed the initial phase of its 3D seismic survey at the Khashim Ahmer block in Iraq's Diyala Governorate. This achievement is a significant step towards developing a large non-associated gas field, which aims to boost Iraq's energy independence and improve electricity services. The project is also expected to create numerous jobs in the Diyala region.

The seismic survey employed advanced nodal technology, providing detailed insights into the field’s reservoirs. This data will guide the placement of initial appraisal wells. Crescent Petroleum plans to issue turn-key contracts for drilling these wells, with spudding anticipated later this year. The first phase of appraisal and development will be followed by facility construction for commercial production, with an investment between US$200 million and US$250 million.

Once hydrocarbon resources are confirmed, subsequent phases will involve further development drilling and building a central processing facility. This infrastructure will manage up to 400 MMscf/d of gas and 80,000 b/d of condensates. The total investment for these phases is expected to exceed US$1 billion.

Abdulla al Qadi, Iraq Country Chair and MD Diyala and Basra at Crescent Petroleum, stated: "Reaching this milestone on time and on budget underscores the commitment with which Crescent Petroleum is proceeding with our Iraq projects in Diyala and Basra, as we work to unlock the immense resources of the fields and contribute to Iraq’s economy and to the Iraqi government’s efforts to deliver improved services for the people."

The projects in Diyala are set to generate thousands of direct and indirect jobs in Diyala and nearby governorates, significantly boosting the local economy. Once operational, these projects will help reduce government fuel costs while enhancing electricity supply and economic growth.

Crescent Petroleum has been a leader in private sector natural gas development within the MENA region. With over 54 years of experience in executing complex projects, they aim to deliver shared value to communities and stakeholders alike.

With inputs from WAM