Arab Press

بالشعب و للشعب
Tuesday, May 13, 2025

Crescent Petroleum signs three contracts to develop oil and gas fields in Diyala and Basra

Crescent Petroleum signs three contracts to develop oil and gas fields in Diyala and Basra

Crescent Petroleum, the Middle East's oldest privately-owned upstream oil and gas company, has signed three twenty-year agreements with Iraq's Ministry of Oil to appraise, develop, and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate. The agreements will deliver much needed natural gas to fuel nearby power plants and improve government services, creating thousands of new jobs in Diyala and Basra. The contracts follow Crescent Petroleum’s successful award in the Oil Ministry’s Fifth Bid Round.
Crescent Petroleum will develop the Gilabat-Qumar and Khashim Ahmer-Injana fields in Diyala Province, to initially produce 250 million standard cubic feet per day (MMscfd) of natural gas. A third exploration block, the Khider Al-Mai block in Basra province, will be explored and developed to add further supplies of oil and gas.

The contracts were signed at a ceremony today held at the Oil Ministry in Baghdad attended by Iraqi Prime Minister Mohammed Shia Al-Sudani and Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, as well as Crescent Group Chairman Hamid Jafar, and Crescent Petroleum CEO Majid Jafar. They were signed by Abdulla Al Qadi, Crescent Petroleum Executive Director of Exploration and Production, along with Midland Oil Company Director-General Qadouri Abed Salim, and Basra Oil Company Director-General Basim Abdulkarim.First gas from the Diyala operations is expected within 18 months to supply nearby power plants. The company will build a processing plant on site as well as pipelines and infrastructure to supply gas.

Crescent Petroleum is committed to achieving 90 percent local 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 Basra provinces.

Abdulla Al Qadi, Executive Director of Exploration and Production at Crescent Petroleum said, “We are pleased to commence this long-term partnership with the Government of Iraq. Our new planned investments and operations will create thousands of new jobs and support the local and national economy. Gas and oil supplies from these operations will help improve services and local economic development for the people of Iraq.”
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
Senate Democrats Move to Censure Trump Over Qatar Jet Gift
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
India and Pakistan Agreement on Ceasefire Amid Ongoing Tensions
Trump's Upcoming Middle East Trip Excludes Israel, Raising Concerns Among Israeli Officials
Trump's Upcoming Visit to Gulf Nations: Investment and Security at the Forefront
Cardinal Robert Prevost Elected as Pope Leo XIV, Marking a Historic Papacy
India-Pakistan conflict may be first test for Chinese military tech
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
Warren Buffett to Step Down as Berkshire CEO After Nearly 60 Years
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
Massive Explosion at Iran's Bandar Abbas Port Linked to Suspicious Chemical Shipments
Pope Francis Laid to Rest in Rome as World Leaders Attend Funeral
Not Child’s Play: How Competitive Gaming Became a Global Economic Empire
California Surpasses Japan to Become the World’s Fourth-Largest Economy
Former U.S. Congressman George Santos sentenced to eighty-seven months for wide-ranging fraud
Israel Considers Limited Strikes on Iran's Nuclear Facilities Amid Diplomatic Efforts
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
IMF Predicts No Global Recession Amid Trade Tensions
Removing the Political Rival Means Diminishing What's Remaining of Turkey's Economy
White House Investigates Security Breach After Journalist Accidentally Added to Secret Yemen Strike Chat
UAE Pledges $1.4 Trillion Investment Strategy in the United States
Revealing the Electromagnetic Characteristics of the Great Pyramid of Giza
Netanyahu Dismisses Shin Bet Chief Amid 'Loss of Trust' and 'Qatargate' Corruption Investigations Involving Netanyahu's Advisors
U.S. Approves $100 Million Precision Rocket Sale to Saudi Arabia Amid Ongoing Yemen Conflict
High-ranking ISIS Official Neutralized in Collaborative Operation in Iraq
Netanyahu Rejects UN Reports on Gaza as 'Untrue'
Six Americans Freed from Detention in Kuwait
Syria Wraps Up Military Campaign Amid Extensive Violence and Large-Scale Killings.
Trump Speaks Out on the Arrest of Pro-Palestinian Student at Columbia University
Demonstrations Break Out as Individual Ascends Big Ben with Palestinian Flag
Over 300,000 Refugees Expected to Return to Syria Amid Ongoing Crisis
Trump Urges Nuclear Talks with Iran as Tensions Escalate
US Launches AI Initiative to Track Foreign Nationals' Social Media for Terrorist Support.
US Initiates Direct Discussions with Hamas During Hostage Situation
US Government Dismisses Arab Leaders' Plan for Gaza Reconstruction
US Engages in Unprecedented Covert Talks with Hamas Regarding Hostages
Arab Leaders Approve $53 Billion Initiative for Gaza Reconstruction
Iran's Enriched Uranium Stockpile Reaches Levels for Six Nuclear Devices
Israel Indicates Willingness to Resume Military Operations in Gaza
Hamas Lets Go of Last Israeli Hostage as Part of Ceasefire Deal
Trump Adjusts Gaza Resettlement Plan Following Rejections from Regional Leaders
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advance.
Israeli Minister Urges Hamas to Surrender and Depart from Gaza.
Iran Considers Moving Its Capital Due to Urban Difficulties
×