COMMITTED PARTNER TO IRAQ AND EGYPT
“Our governance system and structures have allowed Crescent Petroleum to be the only international oil company to have maintained a continuous presence in Iraq for the past 25 years.”
A key area of focus for Crescent Petroleum and its affiliates has been the development of oil and natural gas assets in the region. Having pioneered the development of UAE’s oil and gas market, with an investment in today’s value of US$2.6 billion since inception, Crescent Petroleum expanded its horizon with focus on Iraq and Egypt.In the Kurdistan Region of Iraq (KRI), gas was desperately needed for power generation in 2007. In order to meet this challenge, Crescent Petroleum and Dana Gas were tasked with the development of KorMor field on a fast– track basis. Rising to the challenge posed by difficult terrain, the presence of unexploded remnants of war, and the myriad additional concerns that had discouraged other energy companies from venturing into the area — we completed our project in record time.
Today, our gas deliveries provide nearly uninterrupted electricity supply for over four million Iraqis in the KRI. We have also enabled ongoing fuel savings of billions of dollars for the Government of KRI.
While our work in the KRI exemplifies Crescent Petroleum’s ethos of looking for solutions, rather than excuses, when faced with many challenges, our history in Iraq goes far beyond this remarkable project. With offices across the country, Crescent Petroleum has strong roots in Iraq and has continued to be involved in various oil & gas initiatives in the country.