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Iraq’s Ministry of Electricity will purchase 100 million standard cubic feet of gas from the Sharjah-based Crescent Petroleum to power its stations.
Iraqi Prime Minister Mohammed Shia Al-Sudani approved the decision during a meeting with Crescent Petroleum, which was aimed at advancing gas investment through private-sector partnerships, the company said in a post on LinkedIn on Wednesday.
Al-Sudani also directed the Oil Ministry to expedite the resolution of obstacles hindering Crescent Petroleum’s gas and oil investment in the Khashm Al-Ahmar-Injana field in Diyala Province within a defined timeline and framework.
In 2023, Crescent Petroleum signed three contracts with the Iraqi Oil Ministry, including the Khasham Al-Ahmar-Injana concession, as part of the country’s fifth licensing round, Iraqi News Agency reported.
These contracts target the extraction of 400 million standard cubic feet of gas per day within 18 months from blocks in Diyala, Muthanna, and Basra.
(Writing by P Deol; Editing by Anoop Menon)
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