• Drilling, construction and commissioning completed eight months ahead of schedule

• Project adds 250 MMscf/d of new gas processing capacity, raising Khor Mor’s total capacity to 750 MMscf/d

• Total project investment of US$1.1bn

• Expansion expected to significantly enhance revenue and support electricity generation across Iraq

• Over 6,000 tonnes of steel and 6.2 million man-hours delivered, marking one of the largest private energy infrastructure builds in Iraq in recent year

Sharjah, UAE, 16th October 2025, Crescent Petroleum, the region’s oldest private upstream oil and gas company, and Dana Gas PJSC, the Middle East’s leading private sector and publicly-listed natural gas company, today announced the start of commercial gas sales from the KM250 gas expansion project (“KM250”) at the Khor Mor facility in the Kurdistan Region of Iraq (KRI).

Delivered eight months ahead of the revised schedule, the KM250 will add 250 million standard cubic feet per day (MMscf/d) of new processing capacity, a 50% increase, boosting Khor Mor’s total output to 750 MMscf/d. The additional capacity will help meet Iraq’s rapidly growing power demand by delivering significant new volumes of clean-burning natural gas.

The expansion will bolster power generation and support industrial growth across the KRI, underpinning the KRG’s Runaki initiative to deliver 24-hour electricity, while improving supply to other regions of Iraq.

The $1.1 billion project was backed by financing from the Bank of Sharjah, the US Development Finance Corporation (DFC), and proceeds from Pearl Petroleum’s $350 million senior secured bond issued in 2024 and listed on Nordic Alternative Bond Market. At its peak, the project employed over 10,000 people and involved the delivery of more than 6,000 tonnes of steel and 6.2 million man-hours, making it one of the largest private-sector infrastructure builds in Iraq in recent years.

Majid Jafar, CEO of Crescent Petroleum and Board Managing Director of Dana Gas, said: “Delivering KM250 ahead of schedule marks a significant achievement for Crescent Petroleum, Dana Gas, and our Pearl Consortium partners. This accomplishment highlights our ongoing dedication to the Kurdistan Region of Iraq, demonstrates our capacity to unlock its vast energy resources, and reinforces our commitment to generating jobs, enhancing local services, and providing cleaner, more reliable energy for the Region and the Country.”

“I am especially grateful for the strong support of the KRG and local authorities, whose cooperation helped us overcome challenges and sustain momentum throughout the project. I would also like to recognise the outstanding leadership of Richard Hall, CEO of Dana Gas, who navigated the complex dynamics and guided the project to successful completion eight months ahead of schedule.”

Richard Hall, CEO, Dana Gas, said: “Completing KM250 early is a huge milestone for Dana Gas and reflects the hands-on approach we brought to the project in the absence of the main contractor. By assuming operational oversight, Dana Gas and Crescent Petroleum were able to focus delivery, resolve issues quickly, and restore momentum – yielding real results on the ground.

“The additional capacity strengthens our production profile and is expected to deliver substantial annual revenue for Dana Gas. It also supports our mission to deliver stable, cleaner energy to KRI communities, reduce diesel dependence and advance the region’s ambition for 24-hour electrification.”

KM250 Project Overview

The gas from KM250 will serve growing  power demand in the KRI and the rest of Iraq. The plant will also produce 7,000 barrels per day of condensate and 460 tonnes per day of LPG, supplementing existing output of 15,200 bbl/d and 1,070 t/d respectively.

The facility incorporates state-of-the-art technology, including AI monitoring tools, high-efficiency compressors, and modern processes for sulphur and contaminant removal. These upgrades will boost efficiency and reduce environmental impact.

In 2024, Dana Gas and Crescent Petroleum assumed operational control of KM250, working in collaborating with Havatec—the project’s sub-contractor—and other partners. By implementing accelerated project delivery strategies and resetting project timelines, they successfully achieved early commissioning and gas sales.

KM250 has proven both companies’ capabilities in delivering complex natural gas infrastructure. The learnings and systems developed from this project will inform future developments across the region.

With KM250 operational, focus now shifts to the next phase: further appraisal and expansion of the Khor Mor field, and continued progress at Chemchemal to unlock additional gas resources for the region and the country.

Pearl Petroleum

Pearl Petroleum was established in 2009 as a consortium, with Dana Gas and Crescent Petroleum serving as joint operators and each holding a 35% equity stake. OMV, MOL, and RWE later joined the partnership, each acquiring a 10% share. Today, Pearl Petroleum supplies natural gas to four power plants across the KRI, meeting over 80% of the region’s power needs and serving more than six million people.

With 85% national employment and over 20,000 direct and indirect jobs created, Pearl has made a significant contribution to the KRI economy. Clean-burning natural gas from Khor Mor has helped avoid more than 59 million tonnes of CO₂ emissions by replacing oil and diesel with natural gas. Pearl Petroleum has also enabled billions of dollars in fuel cost savings for the host government, while driving regional economic growth.

Pearl Petroleum remains committed to maintaining carbon neutrality having reduced total GHG emissions by over 20% in 2024 to 200 kTCO₂e, while reducing overall energy consumption by 5%, bringing its total carbon intensity to 4.4kg CO₂/Boe. This is among the lowest in the industry, supplemented by offsets of the remaining emissions to effect carbon neutrality.

Hong Kong, 16th October 2025, ZEX PR WIRE, Felix H Mohr is a German entrepreneur and investor recognized for his disciplined approach to building and scaling ventures. Now 34, he has founded companies across marketing, education, and property, drawing on years of hands-on experience in the fintech sector. Rather than following hype, Felix focuses on fundamentals – turning experience, iteration, and persistence into long-term success.

Raised in a multilingual household, Felix learned early that communication and adaptability are key ingredients for growth. His career began in Asia, where he combined teaching, marketing, and consulting before launching his first startups. Those formative years taught him that entrepreneurship is rarely about a single big idea; it’s about resilience, problem-solving, and the willingness to learn continuously.

“Most challenges are solvable once you decide to face them,” Felix says. “The people who keep learning and refining their craft eventually win – not because they’re lucky, but because they stay consistent when others stop.”

Felix’s portfolio has included ventures in fintech, marketing, and online education – industries that share one common theme: the need for trust and transparency. Through social media and online courses, he distills complex business lessons into practical insights that founders can apply immediately. His philosophy centers on accessibility – breaking down the walls that make high-level business knowledge seem out of reach for beginners.

He often emphasizes the power of personal development over shortcuts. Discipline, according to Felix, is the bridge between intention and achievement. His daily content reflects this idea, blending motivation with actionable advice for entrepreneurs navigating early-stage chaos. Each post, video, or talk is grounded in real-world experience rather than theory.

Over the past decade, Felix has advised startups, collaborated with founders across continents, and shared frameworks for sustainable business growth. His message resonates with those who value progress over perfection. “Iteration beats talent every time,” he explains. “If you show up every day and make small improvements, success compounds naturally.”

Today, Felix continues to focus on education and mentorship, helping people transform information into execution. His long-term goal is simple: to make credible, experience-based business knowledge globally accessible and to encourage more aspiring founders to start – even before they feel ready.

Learn more about Felix H Mohr at felixhmohr.com, or connect with him on X, LinkedIn, and YouTube.

Dubai, UAE, 16th October 2025, ZEX PR WIRE, Trescon, in partnership with ESG Mena, announced the launch of the CARE ESG Awards, a landmark platform recognising the innovators, organisations, and change makers redefining sustainability standards across the Middle East and North Africa. The CARE ESG Awards will take place at the inaugural Climate Action, Renewable Energy & Sustainability Forum (CARE MENA), co-located with the Digitization, AI & Emerging Tech Summit (DATE). Together, the two events will bring together over 4,000 government, industry, technology, and sustainability leaders.

Built on a rigorous, merit-based evaluation criteria, the Awards will recognise excellence across 16 categories driving progress in areas such as clean energy, finance, mobility, agritech, healthcare, governance, and technology. From disruptive start-ups and corporates to youth advocates and senior leaders, the awards honour those shaping a more resilient, low ‑carbon future for the region.

Naveen Bharadwaj, Group CEO, Trescon, said: “Across the MENA region, we’re witnessing transformative climate ambition take shape through bold clean energy projects and ESG leadership. With the CARE ESG Awards, we at Trescon are building a global platform that recognises this progress, inspires collaboration, and accelerates the region’s role in defining a more sustainable world.”

Together with ESG Mena, the region’s first independent ESG knowledge hub, the Awards uphold credibility, transparency, and reach. ESG Mena’s expertise, spanning the UAE, Saudi Arabia, Egypt, Morocco and beyond, ensures that recognition is strictly merit based‑, highlighting genuine leadership and measurable impact across the ESG landscape.

A distinguished jury panel drawn from respected organisations will oversee the selection process. Their collective expertise guarantees that winners embody the highest standards of environmental, social, and governance leadership.

Saleh Jafar, Founder & CEO, ESG Mena, added: “Since founding ESG Mena, our mission has been to cut through the noise and spotlight initiatives that deliver measurable results. Partnering with Trescon ensures that recognition is based on evidence and outcomes, and that the region’s true sustainability leaders get the visibility they deserve.”

Winners will gain regional and international recognition as benchmarks of sustainability excellence, positioning their work as models for replication and scale. Beyond the accolade, they will unlock opportunities to engage directly with policymakers, investors, and industry leaders shaping the MENA region’s sustainable future.

The awards will also feature a Sustainability Fashion Show, showcasing collections crafted from recycled materials, ethical fabrics, and circular design principles.

The CARE ESG Awards, by Trescon and ESG Mena, stand as a beacon of measurable climate action, corporate responsibility, and sustainable innovation – celebrating those who lead with courage, vision, and integrity.

For more information, visit:  www.careforsustainability.com/careesg-awards

For further enquiries, contact:

Shadi Dawi

Global Director – PR & Media

M: +971 55 498 4989 | E: shadi@tresconglobal.com