Business | Oil & Gas
Crescent holds talks on exploration in Iraq
Sharjah-based Crescent Petroleum yesterday said it held talks with representatives of the Iraqi Ministry of Oil in Amman last week to implement their joint study of an exploration area near the Iraqi-Kuwaiti border.
- Staff Report
- Published: 00:00 April 6, 2007
- Crescent Petroleum has conducted in-depth studies of other regions in Iraq, including a detailed development plan for the Rattawi field.
- Image Credit: Reuters
Dubai: Sharjah-based Crescent Petroleum yesterday said it held talks with representatives of the Iraqi Ministry of Oil in Amman last week to implement their joint study of an exploration area near the Iraqi-Kuwaiti border.
"The meetings follow a technical cooperation agreement that was signed between the Iraqi Oil Exploration Company and Crescent Petroleum in September 2005," an e-mailed statement said.
"Technical experts from Crescent Petroleum, the Iraqi Oil Exploration Company, the Southern Oil Company and the Geophysical Service Centre in Amman held meetings over several days to fin-alise the technical programme and scope of work."
Duration
The initial study will take ten months and will include a re-examination of the methods for seismic measurement presently available in the region and the preparation of geological studies of the current environment and new exploration areas.
"Crescent Petroleum is the only international oil company that has had a continued presence in Iraq over many years and we have had an ongoing relationship of cooperation with the ministry," said Abdullah Al Qadi, director of Upstream Operations for Crescent Petroleum.
He led the company delegation at the meeting in Amman.
"We are proud to work with the Iraqi Oil Ministry in order to enhance the skills being applied to this study to apply new approaches on exploration methods, all of which will ultimately add value to the organisation and hopefully benefit the Iraqi petroleum sector as a whole."
Crescent Petroleum has conducted in-depth studies of other regions in Iraq, including the Rattawi field, for which it has been in discussions with the ministry over several years.
In addition, the company has carried out training programmes for ministry employees and its related companies to foster an environment for the learning and sharing of technical skills while strengthening cooperation between both sides.
Share this article
More from Oil & Gas
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Louvre, Golden Tulip hotel chains to expand in region
Dubai could host first establishment in 2010
-
Lending slows down in eurozone
Central Bank will this week announce revisions to liquidity-boosting measures
-
Global outcry over Dubai World restructuring is exaggerated
About 75 per cent of the $20b bond has already been subscribed
