Iraq signs oil and gas deals with UAE's Crescent Petroleum, Chinese firms

Middle East
21-02-2023 | 10:08
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Iraq signs oil and gas deals with UAE's Crescent Petroleum, Chinese firms
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Iraq signs oil and gas deals with UAE's Crescent Petroleum, Chinese firms

Iraq signed deals with UAE firm Crescent Petroleum and two Chinese companies on Tuesday for the development of six oil and gas fields as it seeks to produce much needed natural gas for power stations and cut imports burdening the country's budget.

United Arab Emirates-based Crescent Petroleum signed three 20-year contracts to develop oil and natural gas fields in Iraq's Basra and Diyala provinces in northeastern Baghdad.
 
The Crescent Petroleum contracts include the Gilabat-Qumar and Khashim fields in Diyala, which are expected to begin producing 250 million standard cubic feet per day of natural gas within 18 months, the company said.

Crescent Petroleum also plans to explore and develop Khider al-Mai, a third block in Basra province for oil and gas.

China’s Geo-Jade also signed two contracts for exploration and development rights to Iraq’s Huwaiza oilfield in the south and Naft Khana northeast of Baghdad, both near the Iranian border.
 
Chinese oil and gas company United Energy Group Ltd signed a contract to develop the Sindbad oilfield near Basra.

Iraq expects the new deals to help produce more than 800 million standard cubic feet per day of natural gas (mcf/d), Iraq's oil minister Hayan Abdel-Ghani said during the signing ceremony on Tuesday which Prime Minister Mohammed al-Sudani attended.

The OPEC producer heavily relies on Iranian gas imports to feed its power grid.
 
Ghani said Iraq was planning to launch a new bidding round to try and maximise gas production.

The new round will include exploration blocks in the country's north, central and western regions, he said.
 

Iraq

signs

Oil

Gas

Energy

Deal

UAE

United Arab Emirates

Crescent

Petroleum

China

Firms

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Middle East News
06:37

Turkey and Saudi Arabia set to scrap visa requirements, source tells Reuters

LBCI
Middle East News
2026-05-04

UAE says it is discussing currency swap line with US

LBCI
Lebanon News
07:22

Lebanese President condemns attack on UAE, expresses solidarity

LBCI
Lebanon News
2026-02-21

Beatification announced for Lebanese priest Father Bechara Abou Mrad

Videos
d-none hideMe
LBCI
World News
2026-03-25

Iran uses cluster bombs to target Israel: AiTelly explains what happens when a missile is intercepted—Video

LBCI
Lebanon News
2026-03-08

At least 19 killed after strike destroys three-story building in Sir el-Gharbiyeh: Video

LBCI
Lebanon News
2026-03-06

Israeli airstrike targets Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Intense consecutive airstrikes hit Beirut’s southern suburbs: Video

LBCI
Lebanon News
2026-03-05

Israeli army launches evening airstrikes on Beirut’s southern suburbs after evacuation warning

LBCI
Lebanon News
2026-03-02

Smoke rises over Beirut’s southern suburbs as Israel targets area: Video

LBCI
Lebanon News
2026-02-16

German President Steinmeier meets Lebanon's President Aoun at Baabda Palace—Video

LBCI
Lebanon News
2026-02-14

Future Movement supporters mark Rafic Hariri anniversary, call for Saad Hariri's return to politics

LBCI
Lebanon News
2026-02-01

Israel strikes vehicle in Doueir-Wadi Aaba in South Lebanon—Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
Middle East News
11:29

Fujairah government says fire at oil industrial zone caused by drone coming from Iran

LBCI
Middle East News
12:44

Three injured in strike targeting energy installation in UAE's Fujairah: Authorities

LBCI
News Bulletin Reports
13:02

Netanyahu keeps sensitive Iran-related briefing under wraps during cabinet meeting amid legal row

LBCI
News Bulletin Reports
12:48

Lebanon prioritizes ceasefire as US envoy works to bridge political divide: The details

LBCI
Lebanon News
05:26

Kataeb leader calls for broader opposition to Hezbollah during visit to Bkerki

LBCI
Lebanon News
02:09

Israeli army issues evacuation warning for residents of Jibchit and Srifa in South Lebanon

LBCI
Middle East News
12:00

UAE defense ministry says Iranian barrage targeting country

LBCI
Middle East News
14:45

Israel raises alert level amid Gulf tensions, possible shelter warning under consideration: LBCI correspondent in Haifa

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More