We are the largest private investor in Iraq’s natural gas sector with over $3.4 billion invested in our operations to enable economic growth and support social sustainability.
Crescent Petroleum’s hard-earned reputation for dependability and ethical conduct makes us efficient, effective and resilient.
To creatively unlock the benefits of energy resources and make a transformative impact on the communities that we serve.
Being a trusted leader in sustainable energy, empowering communities, and driving responsible regional growth.
At Crescent Petroleum, we believe that, for a more prosperous tomorrow, businesses need to act in harmony with governments, people and the environment…
Crescent Petroleum is proud to be the oldest and largest private oil and gas company in the Middle East. We have long been pioneers in the region’s gas sector, from leading the first cross-border gas agreements between Sharjah and Dubai in the 1980s, to developing the immense gas resources of the Kurdistan Region of Iraq (KRI), and soon, in federal Iraq. Reliable, affordable natural gas is a fundamental pillar for a just and equitable energy system which ensures technological progress, economic growth, and societal well-being.
Today, natural gas makes up more than 80 per cent of our production, helping to deliver cleaner, more affordable electricity to millions in the Kurdistan Region of Iraq (KRI). Since 2008, our operations have helped the region avoid over 58 million tonnes of CO2 emissions by replacing liquid fuels with natural gas. This impact will grow as we expand our operations develop our new projects in federal Iraq and beyond.
Our commitment to stewardship of the environment and continuous improvement is reflected in our sustainability efforts, including our Environmental Action Plan. This includes everything from implementing ambient air monitoring to improve environmental data accuracy, reducing polystyrene waste, to studying stack emissions to identify reduction opportunities.
The culmination of all these efforts in 2024 was a 10 per cent reduction in total GHG emissions. This, combined with a 5 per cent reduction in energy consumption and lower on-site activity, resulted in an overall carbon intensity of 4.4 Kg CO2e/BOE, which is one-third of the global industry average and half that of our regional peers.
None of this would have been possible without the dedication and hard work of our employees, whose hard work has made Crescent Petroleum what it is today. Together, we have faced challenges and celebrated successes. We remain deeply grateful for their loyalty and resilience. We look forward to a bright future as we expand and thrive together.
For more than 20 years, Crescent Petroleum has been committed to the development of 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 almost 20 years.
For the past 50 Years, Crescent Petroleum has worked to creatively unlock the benefits of energy resources and deliver transformative impact on the communities we serve. From our offices in the UAE, we have grown to be the oldest and largest private upstream exploration and production company in the Middle East, with international offices in the United Kingdom and Iraq.
Crescent Petroleum’s journey began with initial offshore discoveries in the Mubarek field in 1972, a landmark project that elevated both Crescent Petroleum and the Sharjah onto the international oil and gas scene at a critical moment in the energy markets.
Crescent Petroleum itself was formed by a consortium of respected oil and gas companies in 1971 to unlock the immense value of offshore resources in Sharjah and to fuel the development of the emirate. While Abu Dhabi and Dubai discovered oil in 1958 and 1966 respectively, Sharjah’s production commenced in 1974, following our discoveries. Crescent Petroleum brought the Mubarek field to full production within 13 months of its discovery, producing over 60,000 barrels per day at its peak.
The Mubarek field project proved only the first of numerous other projects with tremendous regional impact. In April 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 the Khor Mor and Chemchemal fields in the Kurdistan Region of Iraq (KRI). Production from a newly-built early production facility
at Khor Mor and distribution to two power plants through a 180 kilometre pipeline began 15 months later, in October 2008, another industry record, reinforcing our reputation as an innovative and pioneering energy company.
Today Crescent Petroleum is a subsidiary of Crescent Group, a diversified privately owned business primarily located in the UAE. The company is also the founding and largest shareholder in Dana Gas, a publicly listed private-sector natural gas company in the Middle East and North Africa region.
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, the 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.
Today we are the region’s oldest and largest privately held oil and gas producer and operator with current operations in Iraq and the United Arab Emirates (UAE), and with significant interests in Egypt through Crescent Petroleum’s affiliate, Dana Gas.
Crescent Petroleum is governed by the Crescent Group Board of Directors, which is responsible for setting the overall strategy for both Crescent Petroleum and Crescent Enterprises, and for the general management and oversight of strategic, financial, and operational risks.
The Board has designated an Executive Committee to oversee strategy and decision-making, review strategic plan and mission, develop capital management guidelines, and set policies of its petroleum operations.
Crescent Petroleum formed
Oil discovered in the Mubarek Field in Sharjah, UAE
Exploration activities in presentday Montenegro, Europe
Mubarek field oil production begins in Sharjah
Exploration and production concession obtained for the San Jorge Basin in Argentina
Contract entered with the 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 intraemirate gas pipeline connect offshore Mubarek 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, delivering the most successful and largest IPO in the region’s history
Crescent Petroleum becomes the technical operator for the Bukha field, offshore Oman Crescent Petroleum becomes the technical operator for concessions in Ajman, Umm Al Quwain and Ras Al Khaimah
Chinese Petroleum Corporation, Taiwan takes minority stake in Mubarek field
Enterprise Oil (now Shell) Mubarek Field, offshore Sharjah
With the award of the Khor Mor and Chemchemal fields, Crescent Petroleum (along with Dana Gas) becomes among the first upstream oil and gas companies to begin operations in the KRI
Sharjah Onshore Concession awarded
Formation of the Pearl Petroleum consortium, with Crescent Petroleum and Dana Gas as the joint operator of KRI fields with 40 per cent interest each in Pearl. OMV and MOL join Pearl Petroleum, acquiring 10 per cent interest each
Agreement signed with Rosneft to jointly explore the Sharjah Onshore Concession
RWE joins Pearl Petroleum consortium with 10 per cent share
Crescent Petroleum secures three concessions within federal Iraq for the development of gas fields in Diyala province, as well as southern Iraq
Pearl Petroleum signs 20-year Gas Sales Agreement with the KRG to enable production and sales of an additional 250 MMscfd
Crescent Petroleum becomes one of the first companies in the industry to achieve carbon neutrality across its operations after completing a series of projects to reduce carbon intensity and offsetting remaining emissions
Crescent Petroleum celebrates 50 years of operations
Crescent Petroleum signs three long-term contracts with the Iraqi Ministry of Oil for the development of gas fields in Diyala province as well as the Khidhar Al Mai exploration block in Basra
Crescent Petroleum opens Baghdad office, progresses development of the Khashim Ahmer-Injana block in Diyala governorate and Khider Al-Mai block in Basra Governorate
Crescent Petroleum and Dana Gas reach 500 MMboe cumulative production from Khor Mor field, announce major growth and development plans in KM250, 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.
