Crescent Petroleum Gears Up for Expansion in Iraq

By John Lee.

Majid Jafar (pictured), the chief executive of UAE-based Crescent Petroleum, has said the company is gearing up for expansion in the Iraqi oil and gas sector.

Speaking to Reuters on the sidelines of the World Economic Forum (WEF) in Dubai, he said:

“We are looking at entering Libya with the right opportunity. Other countries like Lebanon, despite plans being delayed, have been setting up regulations bodies in preparation. It’s an area of potential interest.“

Crescent Petroleum, which is based in Sharjah, plans to expand investment and production in Kurdistan and into other areas in Iraq given the country’s under-explored state.

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