Oil and gas exploration company, Isramco, has received a loan package of $750 million for the development of its Tamar offshore gas field, Reuters reports. The loan was provided by Deutsche Bank and other groups.

The agreement comprises a $350 million bridge loan, which will be available over the next three years and an additional $400 million credit facility, which can be used by the company until 2024. The total cost of developing the Tamar field is put at $3 billion.

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