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Crescent Petroleum

Crescent Petroleum Overview

Founded in 1971, Cresecent Petroleum is a subsidiary of the Crescent Group family business, and is the Middle East’s largest upstream oil and gas company.

It operates in the UAE and the Kurdistan region of Iraq, and is the founding and largest shareholder of Dana Gas, which operates in Egypt.

The first project handled by Crescent Petroleum was the Mubarek field off the coast of the UAE. Drilling began there in 1972 and within 13 months the field was on full production at a rate of more than 60,000 barrels per day.

After 35 years of production and total investments of $500 million, Crescent Petroleum handed the concession back to the Sharjah government in 2009 as it determined the field’s commercial lifespan was over.

In April 2007, Crescent Petroleum and Dana Gas signed agreements in Kurdistan to develop two gas fields in the region. Under a joint venture called Pearl Petroleum, Crescent and Dana continue to operate in Kurdistan.

In the UAE Crescent Petroleum’s gas supply project involves all stages of provision of natural gas and related products from Iranian and local resources. In Egypt it operates 14 leases in four concessions through Dana Gas.

Previous projects include operations in Pakistan, Canada, Argentina and Yemen, among others.

Crescent Petroleum News

A solar power project at the Faihaa oil field in Basra, Iraq. The country is engaged in a programme to tackle persistent power supply failures

Acwa Power awarded 1GW solar project in Iraq

Iraq has invited Saudi Arabian utilities major Acwa Power to finalise an agreement for the construction of a 1,000 megawatt (MW) solar energy plant, local media reported. The country, Opec’s second largest oil producer, is engaged in a post-war programme to tackle a persistent power supply deficit. The plant in the Central Najaf governorate is […]

TotalEnergies Iraq

TotalEnergies targets 2025 for first phase of Iraq projects

France’s TotalEnergies aims to complete the first phase of a solar power project and the initial phase of the associated gas project in Iraq in 2025, its chief executive Patrick Pouyanné has said. Pouyanné met with the Iraqi prime minister, Mohammed Shia Al-Sudani, on the sidelines of the World Economic Forum in Riyadh, the Iraqi […]

Crescent Petroleum CEO Majid Jafar

UAE’s Crescent can help Iraq meet its energy needs, says CEO

Iraq’s energy needs offer great potential for growth for Crescent Petroleum, the oldest private oil and gas company in the UAE, its group chief executive Majid Jafar has told AGBI.  The Sharjah-headquartered company has built an important presence in Iraq, where it has invested nearly $4 billion, mainly in the Kurdistan region. “We operate the […]

Crescent Petroleum

UAE’s Crescent Petroleum signs oil and gas deals in Iraq

Crescent Petroleum, the UAE’s privately owned upstream oil and gas company, has signed three 20-year agreements to develop new oil and gas fields in Iraq. The deal with Iraq’s Ministry of Oil will see the company appraise, develop and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate.  The […]