Khor Mor expansion gets $250 million boost from U.S.
The U.S. government's overseas lending facility has approved a huge loan to finance new gas supplies, signaling direct support for Kurdistan's energy sector.![](https://cdn.iraqoilreport.com/wp-content/uploads/Khor-Mor-engineer-resized.jpg)
An engineer looks out over gas processing facilities at the Khor Mor field, which is operated by the Emirati companies Crescent Petroleum and Dana Gas, in 2013. (JACOB RUSSELL/Iraq Oil Report/Metrography)
The Pearl Petroleum consortium led by the UAE’s Crescent Petroleum and Dana Gas has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to fund a major expansion of the Khor Mor gas field in the Kurdistan Region of Iraq (KRI), the two parties said in a joint statement on Wednesday.
The project will increase natural gas production at Khor Mor by 50 percent by 2023 “to meet rising demand for clean-burning natural gas for electricity generation and industry in the KRI,” the statement said. The field is currently producing about 440 million standard cubic feet per day (scf/d).
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