$250 million (AED 917 million) financing agreement signed with U.S. International Development Finance Corporation for major expansion project in Kurdistan Region of Iraq

0 million (AED 917 million) financing agreement signed with U.S. International Development Finance Corporation for major expansion project in Kurdistan Region of Iraq

Sharjah, United Arab Emirates,  Pearl Petroleum Company Limited (“Pearl Petroleum”), the consortium led by Dana Gas and Crescent Petroleum of the UAE, has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (“DFC”) to support the gas expansion works currently under way at the Khor Mor gas plant in the Kurdistan Region of Iraq (KRI). DFC is the development finance arm of the U.S government and proceeds from the 7-year DFC financing will support an increase in gas production capacity by 50% to 690 million standard…