Crescent Petroleum has been operating as a regional upstream oil and gas company in the United Arab Emirates for almost forty years. It began its activities in the early 1970’s and was the first regional, independent, privately-owned Middle Eastern petroleum company to engage in the acquisition, exploration and development of petroleum concessions; and the production and sale of crude oil, petroleum products and natural gas.
It is headquartered in Sharjah in the UAE, with international offices strategically located in the UK, Iraq and affiliate office in Egypt. Crescent Petroleum traces its origins to Buttes Gas & Oil Co. International Inc., a wholly owned subsidiary of Crescent Petroleum and holder of a Concession granted in 1969 by the Sharjah Government, pursuant to which the Mubarek Field was discovered offshore Sharjah in the early 1970’s. By the mid-eighties the Crescent Petroleum Group was fully established, appropriately reorganized, and making its mark on the international energy scene.
Crescent Petroleum’s continued search for, and identification of, opportunities in the oil and gas sectors resulted in securing numerous international oil concessions worldwide. At the end of the 1980’s it held concessions in Argentina, Canada, Yugoslavia, France, Tunisia, United Arab Emirates and in the 1990’s it added to these with concessions in Egypt, Pakistan and Yemen.
Crescent Petroleum’s current focus is upon energy opportunities in the Middle East, specifically within the Gulf region, but more widely also encompassing North Africa, the Caspian Sea region and South Asia. Because of this focus, and its long history of regional operating experience, Crescent Petroleum is intimately familiar with business in this region. Success in this industry and in this region is not merely a function of being technically, commercially and financially sound, it also requires an in-depth knowledge and understanding of the cultural and social context within which business is conducted. In addition, Crescent Petroleum’s powerful network of relationships, both across the region and globally, provides it with a distinct advantage in concluding deals.
A particular area of focus for the long-term growth of Crescent Petroleum’s business is the development, marketing and utilization of natural gas assets in the region. Crescent Petroleum has pioneered this role since the mid 1980’s within this vital hydrocarbon rich region of the world, which contains over 40% of global gas reserves, by successfully implementing the first two cross-border pipeline deals in the region. With the new paradigm shift in oil prices, the gas business in the Arabian Gulf is set on a rapid and important growth path, with a booming market for the gas supplies necessary to fuel power plants, and the rapidly growing sector variety of gas-related industries.