Our reputation for agility, operational excellence, transparency, and professionalism makes us the partner of choice for resource-holders in the region and for international oil companies seeking to enter this hydrocarbon-rich market.
Our strength as a family business is in adopting a long-term approach when making investment decisions, without being overly influenced by public markets, or, indeed, by short-term politics. That is what our region needs.
Our half-century track record as an international operator spans eight countries and four continents, with current focus on the Middle East and North Africa region. Today, Crescent Petroleum is a joint operator of the Kurdistan Gas Project in Khor Mor in the Kurdistan Region of Iraq (KRI) and is developing operations at two blocks in Federal Iraq in the Diyala governorate and a third in Basra governorate. We have built a reputation for agility, operational excellence, and ability to bring fields on-stream in record time while maintaining cost efficiency.
In the 1980s, a time when natural gas was widely understood as an undesirable by-product of oil production, Crescent Petroleum took a long-term view of the regional market and led initiatives that placed it at the forefront of sustainable gas projects in the MENA.
Crescent Petroleum is formed as a Joint Venture by four International Oil Companies (IOCs).
Crescent discovers first oil in the Mubarek Field in Sharjah, UAE.
Undertakes exploration activities in present-day Montenegro, Europe.
Oil production begins at Mubarek field in Sharjah.
Exploration and production concession obtained for the San Jorge Basin in Argentina.
Signs contract with the UAE Federal Ministry of Electricity and Water for gas supply pipeline from Sharjah from Mubarek Field, offshore Sharjah.
Obtains exploration concession for the Potwar Basin of Pakistan
Acquires controlling interest in Buttes Resources Canada Limited (BRCL).
• Established first intra-emirate gas pipeline between Mubarek Facilities in Sharjah and Jebel Ali, Dubai.
• Entry into Yemen with an exploration concession.
Partnership with Enterprise Oil (now Shell) for Mubarek Field, offshore Sharjah.
Partnership with Chinese Petroleum Corporation, Taiwan for Mubarek Field, offshore Sharjah.
Awarded concession for Sir Abu Nu’ayr, UAE.
Becomes technical operator for the Bukha field, offshore Oman.
Becomes the technical operator for concessions in Ajman, Umm Al Quwain and Ras Al Khaimah.
Dana Gas founded with Crescent as largest shareholder, delivering the most successful and largest IPO in the region’s history.
Pearl Petroleum formed as consortium with Dana Gas and Crescent Petroleum as major shareholders and joint operators with OMV and MOL each owning 10 per cent.
Enters agreement with Rosneft to jointly explore the Sharjah Onshore Concession.
Pre-qualification for exploration opportunities in multiple countries.
• We secured 3 concessions in Iraq developing gas fields in Diyala province and Khidhr Al Mai.
• 10 y of prod. in KRI and new gas sales agreements.
• 30% expansion of gas production through debottlenecking.
• Crescent and Dana Gas sign 20y Gas Sales Agreement with the KRG to enable prod. & sales of an additional 250 MSCF/day boosting local electricity generation,
• 250 MMSCF/day gas processing trains at the Khor Mor Plant begin to more than double production capacity.
Completion of Khor Mor plant bypass project, enabling further expansion of production to 450MMscfd.
Crescent Petroleum becomes one of the first companies in the industry to achieve carbon neutrality across operations after completing projects to reduce carbon intensity and offsetting remaining emissions. The milestone is the culmination of years of effort to improve total process efficiencies and become one of the least carbon-intensive companies in the energy sector.
In February 2023 the company signed two 20-year contracts with the Midland Oil Company for the development of the Khashim Ahmer-Injana and Gilabat-Qumar fields, as well as a third 20-year contract with the Basra Oil Company for exploration of the Khider Al-Mai field. The Ministry of Oil activated the contracts in October 2023 and development works are ongoing.
