Crescent Petroleum eyes major gas investment in Diyala
Shafaq News/ Diyala province could emerge as a key hub for Iraq's gas industry through strategic investments in its gas fields, Abdullah Al-Qadi, CEO of UAE-based Crescent Petroleum, stated on Tuesday.
Speaking at the "Iraq Energy" conference, Al-Qadi highlighted challenges in fast-tracking gas production at the Al-Khashm Al-Ahmar field, citing bureaucratic delays within Iraqi state institutions. "We aimed for rapid development, similar to our success at the Kor Mor field in al-Sulaymaniyah, where the Kurdistan Regional Government (KRG) granted us the necessary authorities to achieve production within 15 months. However, in Diyala, administrative hurdles have slowed progress," he explained, confirming that despite these obstacles, the project remains on track for completion within two years.
He also emphasized Diyala's potential to become a gas industry hub by linking its fields with nearby reserves such as Ajil and even those in al-Sulaymaniyah.
In 2023, Iraq's Ministry of Oil activated three contracts with Crescent Petroleum to develop the Al-Khashm Al-Ahmar, Kallabat, and Khider Al Mai fields, as part of the fifth licensing round aimed at harnessing 400 million standard cubic feet of gas.
The development of Iraq's gas sector holds transformative potential for the country's economy. Investing in domestic gas resources could lead to energy self-sufficiency and position Iraq as a natural gas exporter. Additionally, utilizing gas from fields like Khawr Al-Zubair, Kallabat, and Khider Al Mai could reduce reliance on oil and lower import costs, strengthening Iraq's energy security while fostering industrial growth in sectors such as petrochemicals and fertilizers.
Furthermore, capturing and utilizing associated gas—often flared as waste—could generate billions in revenue, enhancing economic sustainability. According to the Al-Bayan Center for Studies and Planning, maximizing Iraq's gas potential would not only drive economic growth but also create substantial job opportunities, reinforcing the country's long-term energy strategy.
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