Crescent Petroleum
Crescent Petroleum, founded in 1971 and headquartered in Sharjah, UAE, is the oldest and largest private upstream oil and gas company in the Middle East.
The company has over 50 years of experience as an international operator, with operations spanning countries including Egypt, Pakistan, Yemen, Canada, Montenegro, Tunisia, Argentina, the United Arab Emirates, and Iraq.
Crescent Petroleum is a subsidiary of the Crescent Group, a family business now in its fifth decade with interests across five continents in various sectors.
The company's first major project was the Mubarek field off the coast of the UAE, which began production in 1972 and set a world record for bringing an offshore field onstream from oil discovery.
In Iraq, Crescent Petroleum operates in the Kurdistan Region, where it has invested in gas production for power generation since 2007.
The company is planning to expand its gas production capacity in northern Iraq to 650 million cubic feet per day from an average of 340 million cubic feet per day.
Crescent Petroleum pioneered the development of UAE's gas market and has facilitated several large
scale gas projects, including inter
Emirate gas supply contracts.
The company launched the Gulf
South Asia Gas Project (GUSA) in 1991, aiming to produce and transmit natural gas from Qatar to Pakistan and other South Asian locations.
Crescent Petroleum operates two enhanced oil recovery projects in Wyoming, employing carbon capture, use, and storage (CCUS) technologies.
The company has a strong focus on innovation and has been at the forefront of developing integrated long
term gas projects in the region.
Driven by core values built on operational excellence, transparency, and stakeholder loyalty
Emphasis on cultural awareness in regions of operation
Strong commitment to health, safety, and environment (HSE) policies
Adherence to OHSAS 18001 guidelines for safety culture
Focus on employee engagement and development
Promotion of diversity with employees from around the world
Encouragement of women in the male
dominated industry
Recognition of long
serving employees through special award schemes
Core values include ethics, safety consciousness, enterprise, courage, responsibility, and care
Mission to creatively unlock benefits of energy resources and impact communities
Committed to net zero emissions by 2050 and reducing CO2 emissions by 200mt by 2030
Signed the COP28 Oil & Gas Decarbonisation Charter, pledging to eliminate methane emissions and routine flaring by 2030
Joined the 'Aiming for Zero Methane Emissions Initiative' of the Oil and Gas Climate Initiative (OGCI)
Reduced carbon intensity to 6.0 kgCO2e/boe in 2023, one
third of the global industry average
Achieved carbon neutrality across operations in 2021 by offsetting remaining emissions
Reduced gas flaring by 28% to just 0.31% of production
Natural gas accounts for 78% of total production, enabling cleaner electricity generation
Operations in Kurdistan Region of Iraq have avoided 49 million tonnes of CO2 emissions to date
Implemented water conservation and reuse initiatives
Collected and recycled 3,307 kilograms of electronic waste at Sharjah headquarters in 2023
Reduced total direct energy consumption by 10% in 2023 compared to 2022
Developed an Integrated Operations Management System and 20 HSSE&SP Standards
Conducts comprehensive methane leak surveys across operations
Focuses on continuous efficiency improvements and environmental impact reduction across all operations