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.
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).

This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription or sign up for a free trial.
Iraq Oil Report Attribution Policy

All sources quoted or referenced spoke to Iraq Oil Report directly and exclusively, unless stated otherwise. Iraq Oil Report typically grants anonymity to sources that can't speak without risking their personal safety or job security. We only publish information from anonymous sources that we independently corroborate and are important to core elements of the story. We do not provide anonymity to sources whose purpose is to further personal or political agendas.

Iraq Oil Report Commitment to Independence

Iraq Oil Report strives to provide thoroughly vetted reporting and fair-minded analysis that enables readers to understand the dynamic events of Iraq. To meet this goal, we always seek to gather first-hand information on the ground, verify facts from multiple angles, and solicit input from every stakeholder involved in a given story.

view our independence as an integral piece of our competitive advantage. Whereas many media entities in Iraq are owned or heavily influenced by political parties, Iraq Oil Report is wholly owned by several of its employees. In a landscape that is often polarized and politicized, we are able to gather and corroborate information from an unusually wide array of sources because we can speak with all of them in good faith.

fund this enterprise, Iraq Oil Report depends on revenue from both advertising and subscriptions. Some of our advertisers and subscribers ‐ including companies, governments, and NGOs ‐ are also subjects of our reporting. Consistent with journalistic best practices, Iraq Oil Report maintains a strict firewall that removes business considerations from editorial decision-making. When we are choosing which stories to report and how to write them, our readers always come first.