Iraq awards oil concessions to Crescent Petroleum

Iraq has awarded oil concessions to Crescent Petroleum and other Chinese companies as part of its fifth licensing round, Iraq’s Oil Minister Hayan Abdul Ghani was quoted on Thursday as saying. 

Sharjah-based Crescent Petroleum, the Middle East’s largest private upstream oil and gas company, was awarded three concessions covering the production and development of oil and gas fields Ghani said in a statement published by Aliqitsad News and other publications. 

One field is located in Basra in South Iraq while two are in the Northeastern Diayla Governorate, Ghani said, adding that the fifth round was announced nearly six years ago. 

Two other concessions in Basra and one in Diyala were awarded to the Chinese Geo-Jade Petroleum Company, he added.