SHARJAH, 21st February, 2020 (WAM) — Sharjah-based Crescent Petroleum has announced that it has signed three 20-year contracts with the Iraqi Ministry of Oil to evaluate, develop and produce oil and gas. Two constituencies in Diyala Governorate and another in Basra Governorate. These contracts will meet the natural gas requirement for power plants. nearby energy, improving government services and providing thousands of new jobs in Diyala and Basra.

The contracts were awarded to Crescent Petroleum in the fifth licensing round.

According to the company statement, “Crescent Petroleum will initially develop the Jalabad/Qamr and Qashm Al-Ahmar/Injana fields in Diyala Governorate to produce 250 million standard cubic feet of natural gas. Exploration and development work will also be carried out. A third development field in Basra Governorate to produce additional gas and oil supplies.” The module will be carried out as Qadr Al-Mek.

The deals were concluded at the Ministry of Oil in Baghdad in the presence of Iraqi Prime Minister Mohammad Shia al-Sudani and his Deputy Minister for Energy Affairs Hayan Abdul-Ghani and Crescent’s Board of Directors Chairman Hamid Jaber. Group of Companies, and Majeed Hameed Zafar, CEO of Crescent Petroleum.

The contracts were signed by Crescent Petroleum’s Exploration and Production Executive Director Abdullah Al-Qadi, Midland Oil General Manager Khaturi Abdul Salim and Basra Oil General Manager Bassem Abdul Karim.

Diyala’s operations are expected to achieve first gas production within 18 months to supply neighboring power plants. The company will construct a gas processing plant at the project site, lay pipelines and prepare the necessary infrastructure to provide gas supplies.

Crescent Petroleum is committed to achieving 90 percent local employment of Iraqis in project operations. Residents of Diyala and Basra governorates. //

Abdullah Al-Qadi said: Our new operations will create thousands of jobs and new employment opportunities to strengthen the economy locally and nationally. The gas and oil supplies produced by our operations will contribute to improving services and local development. An economy for the people of Iraq.