Dana Gas reports $445 million revenue in 2024

Egypt. “I am pleased with the progress we made in 2024… Additionally, thanks to the previously established payment mechanism in the KRI [Kurdistan Region of Iraq], we received regular payments throughout the year, reducing our outstanding receivables and strengthening our balance sheet,” said Richard Hall, CEO of Dana Gas. Its revenues increased from $423 million in 2023 to $445 million in 2024. It reported a net profit of $151 million for the year. Dana Gas operates the Khor Mor gas field in Sulaimani province. The field is a key fuel source for electricity generation plants in the Kurdistan Region. “Khor Mor facilities currently supply more than 500 mmscf/d of gas to four power stations and enables the generation of approximately 2,800 MW of electricity which constitutes more than 75% of the KRI’s power generation,” read the report from Dana Gas. “This supply of steady and affordable gas, results in significant fuel cost savings and affordable electricity for millions of Iraqis in the KRI and neighboring governorates, benefiting the whole of Iraq. Once completed, additional gas supplied by the KM250 project to the region’s power stations will play a vital role towards further supporting the economic development across the KRI and Iraq,” it added. According to Dana Gas, once operational, the KM250 expansion will add processing capacity for an additional 250 million standard cubic feet per day (mmscf/d), significantly boosting the company’s cash flows and financial performance. “We hope to build on these achievements in 2025. Looking ahead, we are optimistic about the future and are actively evaluating the resumption of sustainable dividend payments to our shareholders. We will also continue to focus on operational excellence, innovation, and strengthening partnerships in the KRI and Egypt to drive long-term growth,” read the statement from Dana Gas. SHARE ON Share on Facebook Share on Twitter Share on Whatsapp Share on Telegram Share on Viber Share on Messenger Also in ECONOMY DNO reports ‘stellar production’ in Kurdistan Region 2024 revenues Iraqi, Kurdish PMs welcome passage of amendment to federal budget law Erbil-Baghdad financial talks expected to conclude soon: Ministry KRG says Iraqi court deems its contacts with oil companies valid Comments Rudaw moderates all comments submitted on our website. We welcome comments which are relevant to the article and encourage further discussion about the issues that matter to you. We also welcome constructive criticism about Rudaw. To be approved for publication, however, your comments must meet our community guidelines. We will not tolerate the following: profanity, threats, personal attacks, vulgarity, abuse (such as sexism, racism, homophobia or xenophobia), or commercial or personal promotion. Comments that do not meet our guidelines will be rejected. Comments are not edited – they are either approved or rejected. Post a comment Full name Email Comment Submit The Latest Former Iraqi Oil Minister Abduljabbar al-Luaibi speaking at the Iraq Development Platform conference in Baghdad on January 29, 2025. Photo: screengrab/Rudaw Iraq underutilizes vast oil reserves: Former oil minister Zaid Elyaseri, head of BP’s Iraq branch, speaking to Rudaw in Baghdad on January 28, 2025. Photo: screengrab/Rudaw Kirkuk oil deal to boost local economy: BP - KRG slams Iraq for retracting amendment seeking resumption of Kurdish oil exports David Tafuri, head of the US-Kurdistan Business Council, speaking to Rudaw on November 20, 2024. Photo: Screengrab/Rudaw US firms seek investment Kurdistan Region, urge oil export resolution: Expert An oil field in the Kurdistan Region. File photo: Bilind T. Abdullah/Rudaw Oil producers welcome proposal to facilitate Kurdish oil exports The Latest Former Iraqi Oil Minister Abduljabbar al-Luaibi speaking at the Iraq Development Platform conference in Baghdad on January 29, 2025. Photo: screengrab/Rudaw 29-01-2025 Iraq underutilizes vast oil reserves: Former oil minister Iraq sits atop vast oil reserves but fails to fully exploit them, a former oil minister said Wednesday, criticizing the country’s energy policies and OPEC-imposed restrictions. Zaid Elyaseri, head of BP’s Iraq branch, speaking to Rudaw in Baghdad on January 28, 2025. Photo: screengrab/Rudaw 28-01-2025 Kirkuk oil deal to boost local economy: BP - 23-01-2025 KRG slams Iraq for retracting amendment seeking resumption of Kurdish oil exports David Tafuri, head of the US-Kurdistan Business Council, speaking to Rudaw on November 20, 2024. Photo: Screengrab/Rudaw 20-11-2024 US firms seek investment Kurdistan Region, urge oil export resolution: Expert An oil field in the Kurdistan Region. File photo: Bilind T. Abdullah/Rudaw 14-11-2024 Oil producers welcome proposal to facilitate Kurdish oil exports View more Stay up to date on the go Download Rudaw Mobile App Rudaw on App Store Rudaw on Play Store Privacy Policy Terms & Conditions © Copyright Rudaw 2025. All rights reserved.