|10 December, 2019

UAE-based Crescent Petroleum has invested over $3bln in Iraq -CEO

In March, a consortium led by Crescent Petroleum and Dana Gas signed a 20-year gas sales deal with Iraq's Kurdish region

Dana Gas and Crescent Petroleum to Increase Gas Production from Khor Mor Field by 63% within Two Years. Image used for illustrative purpose.

Dana Gas and Crescent Petroleum to Increase Gas Production from Khor Mor Field by 63% within Two Years. Image used for illustrative purpose.

Dana Gas / Handout via Zawya

DUBAI- United Arab Emirates-based energy firm Crescent Petroleum has invested over $3 billion in Iraq, its chief executive said on Tuesday.

"We have invested over $3 billion in Iraq over the last 10 years and that rate is increasing," Majid Jafar said, speaking on a panel at a conference in Abu Dhabi.

In March, a consortium led by Crescent Petroleum and Dana Gas signed a 20-year gas sales deal with Iraq's Kurdish region.

(Reporting by Stanley Carvalho, writing by Nafisa Eltahir; editing by Jason Neely) ((Nafisa.Eltahir@thomsonreuters.com; +971 56 226 1754;))

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