ERBIL, Kurdistan Region of Iraq – The UAE-based Dana Gas said Friday that its net profit rose 48 percent to $152 million in the first nine months of 2026, while its production in the Kurdistan Region increased by 5 percent compared to the same period last year, driven by higher output at the strategic Khor Mor gas field.

In a Friday report, the company said its net profit increased from $103 million in the same period of 2025 to $152 million, “supported by higher production and stronger realized prices.”

In the Kurdistan Region, production grew 5 percent to an average of 42,300 barrels of oil equivalent per day (boepd) during the first nine months of 2026, up from 40,350 boepd in the same period last year, “reflecting higher utilization of the expanded Khor Mor facilities.”

Dana Gas in October 2025 began commercial gas sales from a mega expansion project in Khor Mor – known as KM250 – eight months ahead of schedule, boosting the field’s total output by 50 percent to 750 MMscf/d. 

The company also said it plans to begin drilling at the Chamchamal field before the end of 2026, targeting first gas production in early 2028.

The report further noted that agreements had already been signed to supply up to 170 million standard cubic feet of gas per day to industrial customers in the Kurdistan Region.

Dana Gas, which operates the key Khor Mor gas field, struck a deal with the Kurdistan Regional Government (KRG) in 2007 to develop the Region’s gas capacities.

According to Dana Gas, the company has invested over $3.5 billion in the Kurdistan Region and directly and indirectly created more than 20,000 local job opportunities.

The UAE-based energy giant is struggling with the regional consequences of the US-Israeli war on Iran, with the targeting of the Khor Mor field having negatively impacted operations and disrupted power supplies.