Crescent Petroleum: Difference between revisions
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==Structure== |
==Structure== |
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Crescent Petroleum is part of the Crescent Group of Companies which includes Crescent Petroleum Company International Limited, and Crescent Enterprises Limited, holder of the Group's non-energy interests. The non-executive Chairman of the Group is Hamid Jafar, with his son [[Majid Jafar]] as Vice-Chairman of Crescent Group and CEO of Crescent Petroleum, and son [[Badr Jafar]] as Managing Director of Crescent Group, President of Crescent Petroleum and CEO of Crescent Enterprises.<ref name="structure">{{cite web|url=http://www.crescent.ae/ourcompanies.html|title=Corporate Structure|publisher=Crescent Petroleum|accessdate=2016-07-05}}</ref> |
Crescent Petroleum is part of the Crescent Group of Companies which includes Crescent Petroleum Company International Limited, and Crescent Enterprises Limited, holder of the Group's non-energy interests. The non-executive Chairman of the Group is Hamid Jafar, with his son [[Majid Jafar]] as Vice-Chairman of Crescent Group and CEO of Crescent Petroleum, and son [[Badr Jafar]] as Managing Director of Crescent Group, President of Crescent Petroleum and CEO of Crescent Enterprises.<ref name="structure">{{cite web|url=http://www.crescent.ae/ourcompanies.html|title=Corporate Structure|publisher=Crescent Petroleum|accessdate=2016-07-05}}</ref> |
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==See also== |
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*[[Pearl Petroleum]] |
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==References== |
==References== |
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Revision as of 12:45, 3 September 2016
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| Industry | Oil and Gas |
|---|---|
| Founded | 1971 |
| Headquarters | , |
Number of locations | UAE, UK, Iraq and affiliates in Egypt, Saudi Arabia, Bahrain |
Area served | worldwide |
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 a privately owned oil and gas company headquartered in Sharjah in the United Arab Emirates. Crescent Petroleum has a long heritage, having begun oprations in 1971, and was the first regional, independent, privately-owned petroleum company to be involved in every stage of the oil and gas production process from exploration to refining and sales.
It maintains those interests to this day and has helped pioneer the natural gas industry in the Middle East, including being the largest industry investors in the Kurdistan Region of Iraq through the development of the Khor Mor field and gas plant.[1] The company has invested over USD 1.1 billion in this facility and it produces over 300 million cubic feet of gas and 14,000 barrels of condensate per day, enabling almost continuous electrical supply to the main cities of Iraq's Kurdistan region.
Crescent Petroleum is also the largest private shareholder in Dana Gas, the first and largest publicly listed private-sector natural gas company in the Middle East.[2]
The company’s philosophy is built around innovation and sustainability with an emphasis on technical excellence and safety. Working daily with volatile materials like hydrocarbons requires experience, skill and an unwavering commitment to responsible operation. There are no shortcuts to acquiring this set of competencies and Crescent Petroleum’s decades of successful trading are testament to its expertise.
History
Crescent Petroleum traces its origins to Buttes Gas & Oil Co. International Inc., a wholly owned subsidiary of Crescent Petroleum and holder of a Concession granted in 1969 by the Sharjah Government. By the end of the 1980s it held concessions in Argentina, Canada, the former Yugoslavia, France, Tunisia and the United Arab Emirates and in the 1990s it added to these with concessions Egypt, Pakistan and Yemen.
Operations
In 2007 and in a 50-50 joint venture with its affiliate Dana Gas PJSC, Crescent Petroleum signed contracts with the Kurdistan Regional Government (KRG) to develop and process the Khor Mor and Chemchemal gas fields. The project required the international joint operators to also transport the natural gas supplies to the power stations of Erbil and Suleymania in order to fuel domestic electric power generation needed for over four million people. The projects implementation was completed within 15 months and involved upstream development, the construction of two Liquefied Petroleum Gas (LPG) plants and 180 kilometres (110 mi) of pipeline in challenging terrain. Gas deliveries to the Erbil Power Station commenced on 1 October 2008. The project has also secured over 2,000 jobs for Iraqi nationals.[3][4]
In May 2009, petroleum companies OMV of Austria and MOL of Hungary each purchased 10% of the shares in Pearl Petroleum (the corporate entity which owns the project), forming a four-way consortium.[5]
The company’s current focus is upon energy opportunities in the Middle East and is intimately familiar with business in this region. Success in this industry is not merely a function of being technically, commercially and financially sound, it also requires an in-depth knowledge and understanding of the cultural and social context within which business is conducted. In addition, Crescent Petroleum’s powerful network of relationships, both across the region and globally, provides it with distinct operational advantages.
A particular area of focus for the long-term growth of Crescent Petroleum’s business is the development and utilization of natural gas assets in the region, which contains over 40% of global gas reserves. Crescent Petroleum has been instrumental in commercialising this resource, building the first two cross-border pipelines in the region, and sees significant potential for gas supplies to fuel power plants as coal-fired plants are phased out.
Structure
Crescent Petroleum is part of the Crescent Group of Companies which includes Crescent Petroleum Company International Limited, and Crescent Enterprises Limited, holder of the Group's non-energy interests. The non-executive Chairman of the Group is Hamid Jafar, with his son Majid Jafar as Vice-Chairman of Crescent Group and CEO of Crescent Petroleum, and son Badr Jafar as Managing Director of Crescent Group, President of Crescent Petroleum and CEO of Crescent Enterprises.[6]
See also
References
- ^ "Dana Gas resumes full production at Khor Mor plant in Kurdistan after pipeline repair". Hydrocarbons Technology. Retrieved 2016-07-05.
- ^ "World Economic Forum/Organisations". 24 Jan 2016. Retrieved 2016-07-05.
- ^ "Khor Mor production reaches 80,000 barrels per day". Oil Review. Retrieved 5 September 2014.
- ^ "Dana Gas, Crescent Petroleum restore Kurdish LPG". Iraqi Oil Industry. Retrieved 5 July 2016.
- ^ "MOL and OMV Join Dana Gas and Crescent in Kurdistan Region of Iraq". OilVoice. 17 May 2009. Retrieved 2009-07-14.
- ^ "Corporate Structure". Crescent Petroleum. Retrieved 2016-07-05.