founded 1971 headquarters sharjah united arab emirates key people hamid jafar group chairman majid jafar chief executive officer badr jafar president services oil and gas exploration production and transport website www.crescentpetroleum.com crescent petroleum is the oldest and largest private upstream oil and gas company in the middle east . founded in 1971 crescent petroleum is headquartered in the emirate of sharjah united arab emirates . since its foundation the company has grown from a small sharjah based firm to a regional leader . crescent petroleum is also the founding and largest shareholder in dana gas the first and largest publicly listed private sector natural gas company in the middle east . 1 2 contents 1 history 2 previous operations 3 operations 3.1 khor mor and chemchemal fields 3.2 sharjah onshore concession 3.3 sir abu nu ayr concession 4 see also 5 references 6 external links history edit mubarek oil field crescent petroleum has current operations in iraq and the united arab emirates uae and interests in egypt through its affiliate dana gas . crescent s growth is linked to its offshore discoveries in the mubarek field in 1972 . the project brought both crescent petroleum and sharjah into international recognition . setting the world record at the time crescent petroleum had the mubarek field in full production within 13 months of its discovery at a rate of over 60 000 barrels per day . crescent petroleum retains two exploration projects in the emirate of sharjah the sharjah onshore concession which it holds since 2008 and an offshore concession in sir abu nu ayr a salt piercement structure off the coast of abu dhabi . beyond its activities in the oil and gas sector crescent is also involved in social investment programs that support arts and culture in the emirate of sharjah . in particular crescent has been supporting the american university of sharjah aus from the early stages of its foundation . crescent petroleum s first international venture outside of the uae began in 1973 when it was granted the exploration rights for block 1 an offshore area in present day montenegro then part of yugoslavia . this was followed in 1981 by concessions for a 232 square kilometres 90 sq mi block in the san jorge basin of argentina . during the 1980s and 1990s crescent secured additional concessions in canada france tunisia egypt pakistan and yemen . 3 during the downturn in the energy sector in the 1990s crescent made the decision to divest from its international positions and refocus attention within the middle east and north africa region . crescent petroleum s current major operations are in the uae and in iraq s kurdistan region where along with its affiliate dana gas it is the largest private investor in the local energy sector having invested over usd 1.1 billion and producing over 9 350 000 cubic metres 330 000 000 cu ft of gas and 14 000 barrels of condensate per day . it supplies power to the main cities of iraq s kurdistan region . previous operations edit the first project handled by crescent was the mubarek field off the coast of uae . within 13 months from the discovery it was on full production at a rate of over 60 000 barrels of oil per day with the drilling of three additional wells the installation of the processing platform an additional well head platform export loading terminal and associated support structures and pipelines . this was a world record at the time for bringing an offshore field on stream from oil discovery . crescent petroleum has also earned several operational world records including the deepest short radius horizontal section drilled and the deepest slim hole to be cased by expandable casing . 4 since the start of production in 1974 the mubarek field has undergone several development phases . the initial phase of the development of ilam mishrif oil reservoir at a depth of 3 800 metres 12 470 ft was completed in 1977 . development of the thamama gas condensate reservoir at a depth of 4 700 metres 15 420 ft was started in 1987 for production of the gas and condensate . 5 a central gas processing facility was established in the early 1990s and gas export to jebel ali through a 150 kilometres 90 mi offshore pipeline was constructed . 6 in late 2005 the company commenced a program of drilling further infill wells to increase production of petroleum . 7 crescent petroleum also discovered the zora gas field currently owned and operated by dana gas off the coast of the united arab emirates in 2001 and has drilled two horizontal wells which both tested positive for hydrocarbons . 8 the gulf south asia gas project gusa was a conceptual study launched by crescent in 1991 and was the first workable project for producing transmitting by pipeline and delivering natural gas from qatar to pakistan and eventually other parts of the south asia . 9 10 operations edit crescent petroleum currently has operations in the following locations khor mor and chemchemal fields in kurdistan in iraq sharjah onshore concession sharjah uae sir abu nu ayr concession sharjah uae khor mor and chemchemal fields edit khor mor and chemchemal fields in 2007 dana gas entered into agreement with the kurdistan regional government of iraq for the appraisal and development of the khor mor and chamchamal gas fields ; two major gas fields in the region . 11 under the terms of the agreement crescent petroleum and dana gas were given exclusive rights to appraise develop process market and sell petroleum from the substantial khor mor and chemchemal blocks and as a first phase to provide natural gas supplies to fuel two major domestic electric power generation plants being built in erbil and chamchamal as well as for local industries and export . 12 13 pearl petroleum was founded in 2009 as the company assigned with the interests of its joint operators dana gas and crescent petroleum . later that year omv of austria and mol of hungary two major european energy companies each became 10 % shareholders in pearl petroleum . in 2015 rwe of germany became the third member with a 10 % share of the company . 14 15 in 2015 german company rwest acquired a 10 % share in the company . 16 the project s implementation was completed within 15 months and involved upstream development the construction of two liquefied petroleum gas lpg plants and 180 kilometres 112 mi of pipeline in challenging terrain . gas deliveries to the erbil power station commenced in october 2008 . pearl petroleum s investment in the kurdistan region of iraq s kri gas project is one of the largest private sector investments in the kri s oil and gas sector and provides electricity supply to over four million people in iraq . based on 2014 oil prices it achieved over usd 3.4 billion of recurring annual savings in fuel costs for the kurdistan regional government krg from the migration from diesel to gas to fuel the power plants . the direct project benefits to the krg arising from this migration from inception to 2014 is usd 15.9 billion . the reduction of greenhouse gas emissions as a result of this switch at both power stations is valued at about usd 300 million per annum . 17 sharjah onshore concession edit in may 2010 crescent petroleum and the russian government owned oil company rosneft signed a strategic cooperation agreement to jointly develop material oil and gas opportunities in the middle east and north africa region . the following month the two companies signed a farmout agreement under russian deputy prime minister igor sechin . under the terms of the agreement both companies would jointly develop the sharjah onshore concession with rosneft holding a 49 % stake as participating interest . the two companies agreed to invest usd 60 million in initial exploration activities which includes the drilling of two oil wells to a depth of 4 500 metres 14 760 ft . 18 the project aimed to benefit from existing infrastructure in sharjah to produce condensates and natural gas liquids that could be consumed domestically and exported internationally . the agreement also included a budget for the development of local infrastructure while preserving the region s natural ecosystems and terrain . since 2014 two wells have been drilled . 19 sir abu nu ayr concession edit sir abu nu ayr island the island of sir abu nu ayr san which sits in the centre of the concession area is part of the emirate of sharjah and is located 80 kilometres 50 mi offshore of abu dhabi in the middle of the prolific offshore oil territory . the acreage is flanked to the east by dubai s fateh oil field complex to the north by the sirri oil field of iran and to the west by the oil and gas fields of abu dhabi . 20 crescent petroleum carried out successful a 2d seismic acquisition in 1999 in the field . a comprehensive 3d 2d survey design study was conducted during 2008 using raytrace modelling for all target reservoirs and encompassing the island plus the entire 12 nautical miles concession area . a further study in 2009 developed the play concepts of the salt related structures based on the available data . during 2012 an airborne gravity and magnetic survey was conducted over san and surrounding areas covering an area of some 400 square kilometres 150 sq mi to develop the exploration work programme . see also edit pearl petroleum crescent enterprises dana gas references edit world economic forum organisations . 24 jan 2016 . retrieved 2016 07 05 . dana gas ipo opens tomorrow . wam . emirates news agency . retrieved 24 september 2016 . about us . crescent petroleum . retrieved 24 september 2016 . crescent completes drilling programme in mubarak field . gulf news . 2007 10 05 . retrieved 24 september 2016 . the mubarek field . crescent petroleum . retrieved 24 september 2016 . aps review gas market trends . aps review gas market trends . retrieved 24 september 2016 . sky petroleum s mubarek field drilling passes 2 200 feet . the america s intelligence wire . 9 february 2006 . access date requires url help carlisle tamsin january 27 2009 . dana to seek gas offshore sharjah . the national . retrieved 2009 07 14 . crescent rising . arabian oil and gas . retrieved 24 september 2016 . mustafa khalid february 13 2005 . 3.2 b gulf south asia pipeline project qatar minister arrives tuesday will discuss gas pipeline . daily times . retrieved 2009 07 12 . kurdistan gas project . kurdistan gas project . retrieved 3 july 2016 . khor mor production reaches 80 000 barrels per day . oil review . retrieved 5 september 2014 . dana gas crescent petroleum restore kurdish lpg . arabian industry . retrieved 5 september 2014 . mol and omv join dana gas and crescent in kurdistan region of iraq . oilvoice . 17 may 2009 . retrieved 2009 07 14 . freifeld daniel . the great pipeline opera . novinite . retrieved 15 august 2016 . dana gas agrees settlement with rwe unit on iraq dispute . retrieved 3 july 2016 . dana gas and crescent petroleum gas project in kurdistan region of iraq socio economic benefits report pdf . pwc . 2015 . p. 92 . retrieved 15 august 2016 . crescent petroleum and rosneft in major cooperation deal . retrieved 24 september 2016 . carlisle tasmin . crescent and rosneft in sharjah gas venture . the national . retrieved 11 october 2016 . form 10 q for sky petroleum inc. . yahoo . retrieved 15 may 2009 . external links edit official website retrieved from https en.wikipedia.org w index.php title crescent petroleum & oldid 743819986 categories oil and gas companies of the united arab