For more than 55 years, Crescent Petroleum has grown from a pioneering regional explorer into the Middle East’s oldest and largest private oil and gas company.
To creatively unlock the benefits of energy resources and make a transformative impact on the communities that we serve.
Ethics, safety consciousness, enterprise, courage, responsibility, and care are principles that guide our decisions.
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For more than 20 years, Crescent Petroleum has been committed to creating opportunities across Iraq to support the development of the country and its people. It is the only international oil company to have maintained a continuous presence in Iraq through offices in Baghdad, Erbil and Sulaymaniyah for nearly two decades.
Founded in 1971, Crescent Petroleum is the Middle East’s oldest and largest private oil and gas company, with a clear purpose: to unlock the full value of energy resources and translate it into lasting economic and social progress.
The company has helped shape the region’s energy landscape through pioneering projects and long-term investment, unlocking the full value of energy resources and translate it into lasting economic and social progress. Today, Crescent Petroleum combines more than five decades of operating experience with a regional energy platform centred on reliable natural gas.
Crescent Petroleum’s pioneering role began with the discovery of the Mubarak Field offshore Sharjah in 1972. Brought into production in just 13 months, the field reached peak production of more than 60,000 barrels of oil per day, placing Sharjah on the global energy map.
Over subsequent decades, we broadened our experience through exploration and investment in Argentina, Canada, Egypt, Iraq, Montenegro, Oman, Pakistan, and Yemen. Operating in these varied markets strengthened the technical depth, commercial discipline, and adaptability we bring to complex energy projects.
The strength of Crescent Petroleum’s operating record is reflected in the international companies we have attracted as partners, combining local knowledge, international expertise, and long-term commitment to unlock energy opportunities at scale. Over the years, we have worked alongside INPEX, Itochu, British Gas, LL&E, China Petroleum Corporation (Taiwan), MOL, RWE, and Rosneft.
We are the founding and largest shareholder of Dana Gas, the private-sector natural gas company that is listed on the Abu Dhabi Securities Exchange (ADX) and has operations across the Middle East and North Africa, including Egypt.
Today, Crescent Petroleum applies our international experience to the Middle East. With headquarters in the United Arab Emirates, we operate with a presence in international locations including the United Kingdom and Iraq.
Crescent Petroleum has been active in Iraq for more than two decades, demonstrating long-term commitment and resilience in the country, while playing a central role in building the country’s modern energy infrastructure.
We are the largest private upstream operator in Iraq by number of fields and by area, advancing a portfolio of long-term gas development projects that support the nation’s energy priorities.
In 2007, Crescent Petroleum, together with Dana Gas, entered into an agreement with the Kurdistan Regional Government (KRG) for exclusive rights to appraise, develop, produce, market, and sell hydrocarbons from Khor Mor, Chemchemal, and other fields at a time when the region’s energy infrastructure was still emerging.
Within just 15 months, we commissioned gas production from Khor Mor (KM), supported by an integrated processing facility and 180-km pipeline. The milestone set another industry record, reinforcing our reputation as an innovative and pioneering energy company. This momentum continues with the successful completion of our KM250 expansion project in 2025, raising Khor Mor’s capacity by 50% to 750 MMscf/d.
Natural gas from our operations fuels most of the electricity generation in the KRI, powering homes, businesses, and industries, and enabling a more stable, modern, and productive economy.
At the same time, Crescent Petroleum is advancing development projects in Federal Iraq, including in the Diyala and Basra governorates, reinforcing our role as a key upstream operator in one of the region’s most important energy markets.
In 2023, we signed two 20-year contracts with the Midland Oil Company in the Diyala Province, 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.
In late 2023, Iraq’s Ministry of Oil activated those contracts and works are now under way for the development of the Khashim Ahmer-Injana block in Diyala governorate. The company is also overseeing exploration efforts at the Khider Al-Mai block in the Basra governorate.
The addition of the new blocks in the Diyala and Basra governorates marks a major expansion of the company’s operational footprint and activities within Iraq, making it the largest upstream operator by number of fields and by area in the country.
As work progresses, Crescent Petroleum is committed to reaching up to 90 percent Iraqi employment at its operations and will lead a variety of social performance projects to deliver training and capacity building, education and social services support to benefit the residents of Diyala and the surrounding regions.
Crescent Petroleum opened its new office in Baghdad in 2024, as we progress with the development of the new projects in Diyala and Basra governorates. Crescent Petroleum’s Chairman Hamid Jafar and CEO Majid Jafar joined Abdulla Al-Qadi, Country Chair, Iraq and MD, Diyala and Basra, together with the entire Baghdad team to inaugurate the office.
In April 2025, the company completed the first phase of its 3D seismic campaign at the Khashim Ahmer-Injana block in Diyala, marking a major step forward in the development of the immense non-associated gas field.
The seismic survey, which was completed on-time and on-budget used the latest seismic nodal technology to provide the first high-resolution insight into the field’s reservoirs, while enabling the placement of initial appraisal wells. Crescent Petroleum will be commencing drilling of appraisal wells in 2026.
That initial phase of the project to meet first commercial production is expected to require an estimated investment of $200 – $250 million. And once the anticipated hydrocarbon resources are in place, follow-on project phases will include further development drilling, construction of a central processing facility and associated infrastructure to handle up to 400 MMscf/d of gas and 80,000 boe/d of liquids (crude oil, condensate and LPG), with an expected investment exceeding $2 billion.
The Diyala project will create thousands of direct and indirect new jobs in Diyala and surrounding governorates, giving a significant boost to the area’s economy. Once operational, the project will also enable the government to save billions spent on imported gas, unlocking funds that can be invested in healthcare and social development.
Crescent Petroleum combines decades of operational experience with a forward-looking approach to technology and innovation.
By integrating advanced data analytics, automation, and digital systems across our operations, we are building a more agile and resilient energy business with improved efficiency, enhanced reliability, and optimised resource use.
Crescent Petroleum is part of Crescent Group, a diversified, privately owned business headquartered in the UAE.
Through its two principal businesses, Crescent Petroleum and Crescent Enterprises, the Group has assets in energy, port management, logistics, venture capital, and private equity.
Crescent Petroleum formed
Oil discovered in the Mubarak Field in Sharjah, UAE
Exploration activities in present day Montenegro, Europe
Mubarak field oil production began in Sharjah
Exploration and production concession obtained for the San Jorge Basin in Argentina
Contract entered with UAE Federal Ministry of Electricity and Water for gas supply pipeline from Sharjah
Exploration concession obtained for the Potwar Basin of Pakistan
Controlling interest obtained in Buttes Resources Canada Limited (BRCL)
Concession awarded for East Khalda in western Egypt. Gulf-South Asia Gas Project (GUSA) launched
The UAE’s first intra-emirate gas pipeline connected offshore Mubarak Facilities to Jebel Ali, Dubai.
Yemen exploration concession with partners INPEX, Itochu, British Gas, LL&E
Dana Gas founded, with Crescent Petroleum as single-largest shareholder, and delivered the most successful and largest IPO in the region’s history at the time
Crescent Petroleum became technical operator for the Bukha field (offshore Oman) and for concessions in Ajman, Umm Al Quwain and Ras Al Khaimah
Chinese Petroleum Corporation, Taiwan took minority stake in Mubarek field
Enterprise Oil (now Shell) signed an agreement with Crescent Petroleum to further develop the Mubarek Field (offshore Sharjah)
With the award of the Khor Mor and Chemchemal fields, Crescent Petroleum (along with Dana Gas) became among the first upstream oil and gas companies to begin operations in the KRI
Sharjah Onshore Concession awarded
Pearl Petroleum consortium formed with Crescent Petroleum and Dana Gas as joint operators of KRI fields, and OMV and MOL joining Pearl Petroleum, each with 10% share
Agreement signed with Rosneft to jointly explore the Sharjah Onshore Concession
RWE joined Pearl Petroleum consortium with 10% share
Crescent Petroleum secured three concessions within Federal Iraq for the development of gas fields in Diyala Governate, as well as southern Iraq
Pearl Petroleum signed 20-year Gas Sales Agreement with the KRG to enable production and sales of an additional 250 MMscf/d
Crescent Petroleum became one of the industry’s first companies to achieve carbon neutrality across its operations after completing a series of projects to reduce carbon intensity and offsetting remaining emissions
Crescent Petroleum celebrated 50 years of operations
Crescent Petroleum signed three long-term contracts with the Iraqi Ministry of Oil for the development of gas fields in Diyala and Basra Governorates
Crescent Petroleum opened Baghdad office, progresses the development of the Khashim Ahmer-Injana block in Diyala Governorate, and the Khider Al-Mai block in Basra Governorate
Crescent Petroleum and Dana Gas reached 500 MMboe cumulative production from Khor Mor field, completed KM250 expansion, and progressed development of Chemchemal and Khashim Ahmer-Injana blocks
Our reputation for agility, operational excellence, transparency, and professionalism make us the partner of choice for resource-holders in the region and for international oil companies seeking to enter this hydrocarbon-rich market.
