We are the largest private investor in Iraq’s natural gas sector with over US$3.9 billion invested in our operations to enable economic growth and support social sustainability.
Delivering complex energy projects with reliability, discipline, and commitment grounded in ethical conduct.
Expanding energy development through entrepreneurial spirit and trusted leadership to drive progress in the region.
Applying technical expertise and strategic investment to create long-term, sustainable value.
Reliable, affordable natural gas is fundamental to energy security, economic growth, and societal well-being. Today, natural gas comprises more than 80% of Crescent Petroleum’s production.
Crescent Petroleum is proud to be the Middle East’s oldest and largest private oil and gas company.
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).
For more than 20 years, Crescent Petroleum has been a committed partner in Iraq’s energy development, supporting economic growth and institutional resilience. We have built enduring relationships as the only international oil company to maintain a continuous presence in Iraq through offices in Baghdad, Erbil, and Sulaymaniyah for almost 20 years.
We have been helping to deliver cleaner, more affordable electricity to millions in KRI since 2008. During this time, our operations have helped the region avoid over 63 million tonnes of CO₂e emissions by replacing liquid fuels with natural gas. This impact will continue growing as we expand our operations and develop our new projects in Federal Iraq and beyond.
Our commitment to environmental stewardship and continuous improvement is reflected in our sustainability efforts. We advance sustainability through four pillars: Environmental Stewardship, Community Empowerment, Team Well-Being, and Employee Development, which together guide the company’s responsible growth and operational excellence.
None of this would have been possible without the dedication and hard work of our employees, whose contributions have 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 ahead to a bright future as we continue to expand responsibly and deliver long-term value for our communities.
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.
As the Middle East’s oldest and largest private upstream exploration and production company, Crescent Petroleum plays a central role in developing energy resources that drive economic growth and regional prosperity.
Crescent Petroleum’s journey began in 1972 with its first offshore discovery at the Mubarek Field. This landmark project elevated both the company and the Emirate of Sharjah onto the international oil and gas scene at a pivotal moment in global energy markets.
Headquartered in the United Arab Emirates (UAE), with offices in the United Kingdom and Iraq, Crescent Petroleum is part of the wider Crescent Group, a diversified, privately owned business based primarily in the UAE. The company is also the founding and largest shareholder of Dana Gas, a publicly listed, private-sector natural gas company operating across the Middle East and North Africa.
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. This project proved only the first of Crescent Petroleum’s many 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 KRI.
Just 15 months later, production from a newly built early-production facility at Khor Mor (KM) and distribution to two power plants through a 180-km pipeline began in October 2008, another industry record, reinforcing our reputation as an innovative and pioneering energy company.
This momentum continues today with the successful completion of the KM250 expansion project in 2025, which increased Khor Mor’s capacity by 50% to 750 MMscf/d.
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.
Under three 20-year exploration and development contracts in Diyala (Khashim Ahmer-Injana and Gilabat-Qumar) and Basra (Khider Al-Mai), activated by the Ministry of Oil in 2023, Crescent Petroleum is progressing its Federal Iraq programme in alignment with national objectives. To support these projects, the company opened a new office in Baghdad in 2024.
The company’s Diyala projects will create thousands of direct and indirect 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 on fuel costs and enhance electricity provision and economic development.
As the projects progress, the company is committed to achieving 90% Iraqi employment in the operations while initiating a variety of social performance projects for training, education, and social services in Diyala and beyond to support the communities where it will operate.
In 2025, Crescent Petroleum completed the first phase of 3D seismic acquisition at the Khashim Ahmer-Injana block, enabling the placement of initial appraisal wells and advancing field development planning.
The initial phase of the appraisal and development project will be followed by facilities construction to meet first commercial production, with a total investment estimated at US$200 million to US$250 million. Once anticipated hydrocarbon resources are established, 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 condensates, with potential investment exceeding US$1 billion.
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 intra-emirate gas pipeline connects 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 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, 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.
