UAE-based Crescent Petroleum has invested over $3 bln in Iraq: CEO

A view of Iraq's Zubair oil field in the Basra Province. (File photo: Reuters)

United Arab Emirates-based energy firm Crescent Petroleum has invested over $3 billion in Iraq, its chief executive said on Tuesday.

“We have invested over $3 billion in Iraq over the last 10 years and that rate is increasing,” Majid Jafar said, speaking on a panel at a conference in Abu Dhabi.

In March, a consortium led by Crescent Petroleum and Dana Gas signed a 20-year gas sales deal with Iraq’s Kurdish region.

Last Update: Tuesday, 10 December 2019 KSA 14:38 - GMT 11:38