Shafaq News/ On Saturday, the UAE-based Dana Gas reported that its nine-month profits in 2024 reached $112 million, with a 3% rise in oil, gas, and hydrocarbon output from its Kurdistan Region fields.

In a statement, the company affirmed, “The growth was fueled by rising gas demand from Regional power generation plants, leading Dana Gas to raise its daily production to 38,200 barrels to meet the heightened need from these stations.”

Despite the production increase, the company reported an 11.3% profit decline from the same period in 2023, due to lower volumes and prices of liquefied petroleum gas (LPG) and other hydrocarbon products.

In a related development, Dana Gas, along with partners in the Pearl Petroleum Co. Ltd., plans to develop the KM250 gas field in Kormor, reflecting its commitment to expanding production to meet rising Regional demand.

Notably, Dana Gas, a private natural gas producer in the Middle East founded in December 2005, is listed on the Abu Dhabi Securities Exchange (ADX). The company operates in exploration and production across Egypt, the Kurdistan Region of Iraq, and the UAE, with reserves surpassing one billion barrels of oil equivalent.