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Abu Dhabi Based Crescent Petroleum Plans to Increase Production by 80 Million Cubic Feet and Plans to Invest in Power Generation in Iraq

Abu Dhabi state-owned Crescent Petroleum plans to increase production of natural gas by 80 million cubic feet by the end of 2018 (October)

Abu Dhabi state-owned Crescent Petroleum plans to increase production of natural gas by 80 million cubic feet by the end of 2018 (October) and they plan to increase it to 500 million cubic feet in the next 3 years, according to a statement recently released by the company. 

Badr Jafar, added: “We have an investment programme which is currently underway to boost production in Iraq. Despite the challenges the country is facing, we see tremendous opportunities of growth.” The boost in production will require US$1 billion in investment in order to meet targets by 2020; “the priority will be to generate and deliver gas for local power generation within Iraq, and subject to demand, also embark on a gas export project.”

 

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