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Iraqi News
09-04-2025
- Business
- Iraqi News
The initial stage of seismic exploration in the Khashm al-Ahmar field in Diyala has been completed
Crescent Petroleum announced on Wednesday the completion of the first phase of 3D seismic exploration in the Khashm al-Ahmar field in Diyala Governorate, Iraq. A company statement received by the Iraqi News Agency (INA) stated, "The first phase of 3D seismic exploration in the Khashm al-Ahmar field in Diyala Governorate, Iraq, has been completed. This is a pivotal step that paves the way for the start of drilling appraisal wells and expanding seismic studies to include the entire field." The statement added, "This achievement is a key step in developing the field's non-associated gas resources, contributing to Iraq's efforts to achieve energy independence, improve electricity services, and create thousands of job opportunities in Diyala Governorate and neighboring areas." It pointed out that "the seismic survey was carried out according to the specified timetable and budget, using the latest seismic surveying technologies, which enabled accurate data on the field's reservoirs and the identification of appraisal well locations. Drilling is expected to begin this year, following the award of comprehensive drilling services contracts." In this context, Abdullah Al-Qadi, President of Crescent Petroleum's Iraq branch and Managing Director for Diyala and Basra, said, "We have reached this critical stage of the project within the specified time and budget," emphasizing "Crescent Petroleum's determination and commitment to moving forward with the development of Iraqi fields, serving the national economy and supporting the government in improving its services to citizens." He added, "Crescent Petroleum is a leading company in developing natural gas resources in the Middle East and North Africa region, and we will leverage our experience spanning more than five decades to implement this vital project and deliver value to local communities and all partners." He pointed out that "the initial investments in the next phase of the project are estimated at between $200 and $250 million, including developing the infrastructure necessary to achieve first commercial production. If the expected hydrocarbon resources are confirmed, the project will see additional investments that may exceed $1 billion, to establish a central processing facility and infrastructure to produce approximately 400 million standard cubic feet of gas per day and 80,000 barrels per day of condensates." It is worth noting that Crescent Petroleum signed two twenty-year contracts in 2023 with the Middle Oil Company to develop the Khashm al-Ahmar-Injana and Kalbat-Qamar fields in Diyala, in addition to an exploration contract for the Khadr al-May field in Basra, in cooperation with the Basra Oil Company. These contracts were activated by the Ministry of Oil between October and December 2023, enabling the acceleration of work. The company plans to achieve a 90% local employment rate in its projects within Iraq and will implement a series of social initiatives in the areas of education, training, and social services in Diyala and the surrounding areas, strengthening its development role in host communities. It is noteworthy that Crescent Petroleum was awarded the Khashm al-Ahmar-Injana concession area in the fifth licensing round in 2018, and signed a development and production contract with the Central Oil Company in February 2023, which entered into force in October of the same year.
Zawya
29-01-2025
- Business
- Zawya
Crescent Petroleum sees Iraq's Diyala province as hub for gas industry
Iraq's Northeastern Diyala province could emerge as a key hub for gas industry through strategic investments in its gas fields, according to Abdullah Al-Qadi, CEO of UAE-based Crescent Petroleum. Speaking at the Iraq Energy conference in Baghdad on Tuesday, 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 clearances to achieve production within 15 months. However, in Diyala, administrative hurdles have slowed progress," he said. He added that that despite these obstacles, the project remains on track for completion within two years. He also emphasised 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 leading to energy self-sufficiency and opening up opportunities for gas exports. Additionally, utilising 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 fertilisers. (Reporting by Nadim Kawach; Editing by Anoop Menon)
Shafaq News
28-01-2025
- Business
- Shafaq News
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.
