Dana Gas reported a net profit of AED 270 million ($74 million) for the first quarter of 2026, marking a 72% increase compared to the same period last year.
The company said strong operational performance in the Kurdistan Region helped support the improved results, despite security-related challenges during the quarter.
Following the completion of the KM250 expansion project, Dana Gas said gas production at the Khor Mor Gas Field exceeded 700 million standard cubic feet per day in January.
The increase added around 15,000 barrels of oil equivalent per day to the company’s net production in the Kurdistan Region, lifting Dana Gas group production to 70,000 barrels of oil equivalent per day, its highest level since 2018.
However, the company said operations at the Khor Mor facility were temporarily suspended at the end of February because of the regional security situation.
Production later resumed in March, although at reduced capacity.
Despite those disruptions, Dana Gas said it managed to maintain production levels that remained relatively strong compared to other energy operators in the Kurdistan Region while continuing to supply customers reliably.
The company also confirmed continued progress on the Chemchemal Development Project in partnership with other companies through a $160 million investment program.
To expand demand and diversify its customer base, Dana Gas signed gas sales agreements in January 2026 to supply up to 142 million standard cubic feet of gas per day to industrial customers.
Average production in the Kurdistan Region during the first quarter reached 40,100 barrels of oil equivalent per day, slightly lower than the 41,400 barrels recorded during the same period in 2025.
The company said the decline was mainly linked to reduced operating capacity at the Khor Mor facility during March due to the regional security situation.
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