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Crescent Petroleum, the Middle East region’s oldest private upstream oil and gas company, has announced the signing of a Memorandum of Understanding (MoU) with the AMAR International Charitable Foundation for cooperation to support capacity-building and local communities in Iraq.
 
The MoU – signed at Crescent Petroleum’s London offices by Baroness Nicholson of Winterbourne, Executive Chairman of AMAR, and Majid Jafar, Executive Director of Crescent Petroleum – forms part of a landmark corporate social responsibility (CSR) programme initiated by Crescent Petroleum, which focuses on environmental, educational and community development in Southern Iraq.
 
“We at Crescent Petroleum are delighted to to enter into this agreement with AMAR Foundation to empower the Iraqi people,” said Majid Jafar, Executive Director of Crescent Petroleum. “AMAR’s exceptional humanitarian work within the country, particularly in the focus areas of public health, education and livelihood, places them in the perfect position to support Crescent Petroleum in our commitment to rebuilding Iraq. The purpose of the agreement is to empower the Iraqi people socially and economically through a variety of initiatives, to support local communities and help with the development of a stable, peaceful and prosperous Iraq.”
 
“I and my colleagues in the AMAR Foundation share the Crescent Petroleum vision of a successful and stable Iraq. This important partnership will be a major step towards our joint goal of a healthy, strong and knowledge-based society, with a secure future for all the Iraqi people,” said Baroness Nicholson of Winterbourne, Executive Chairman of AMAR Foundation.
 
As the first major initiative arising from the agreement, Crescent Petroleum will be providing sponsorship over a three-year period for the creation of the Amar-Crescent Development Centre. The Centre will provide a platform for students to conduct petroleum- and Marshland-related research within the context of Iraq’s geology, environment and society in full partnership with the Marshland communities.
 
The Centre will give enrolled students and researchers the opportunity to analyse and share best practices, particularly in the fields of economic development, capacity building and community empowerment in the Marshlands. This involvement will allow for the development of strategies for improving the education system and healthcare infrastructure, thereby enhancing the unique model of co-existence of the Marshland people with their exceptional natural environment.
 
The project and financial disbursement timetable will be finalised within 60 days of the signing of the MoU, and quarterly progress meetings will provide updates on the project, as well as giving representatives of the two organisations the opportunity to address any issues raised during the previous quarter, and to coordinate any upcoming activities.
 
In addition to covering the creation of the AMAR–Crescent Development Centre, the MoU outlines the pledge by Crescent Petroleum and AMAR to explore, on an ongoing basis, other potential avenues for cooperation in order to benefit the economy, education and health of the people of Iraq.
 
Besides the cooperation with AMAR, various CSR projects have already been delivered by Crescent Petroleum for the Iraqi people including sponsoring three Iraqi universities to attend international conferences, building new units for health clinics, supporting schools in needy neighbourhoods, establishing sport & recreation facilities for local villages, and supplying clean-water facilities and electrical generators for local communities in Northern Iraq.
 
Crescent Petroleum in Iraq
 
Headquartered in Sharjah in the UAE, Crescent Petroleum has offices in Baghdad, Erbil and Basra in Iraq, has carried out studies and training for the Iraqi Ministry of Oil and prepared a full field development plan for the Ratawi Field in southern Iraq. In partnership with its affiliate Dana Gas, Crescent Petroleum is also currently implementing a major integrated natural gas project in the Kurdistan Region of Iraq, under service agreements signed with the regional authorities, to produce, process and deliver gas supplies urgently needed for power generation.
 
The combined project investment of US$650 million is the largest private-sector investment currently being undertaken in Iraq, and involves the construction of 180km of pipelines and the production and processing of 300 million cubic feet per day of natural gas, and will save Iraq over $2.5 billion a year in imported fuels. The project implementation is largely complete, with first gas expected in August.
 
In addition, Crescent Petroleum and Dana Gas are leading the development of the “Kurdistan Gas City” – a large-scale industrial complex in Northern Iraq of over 40 km2, expected to generate up to $40 billion in foreign direct investment and is projected to generate direct and indirect job opportunities for nearly 200,000 Iraqi citizens in infrastructure, industrial projects, support services and other business activities. The Companies hope to replicate this beneficial concept in other areas of Iraq, in order to maximise the local economic benefit of the country’s natural gas resources.
 
Crescent Petroleum is the only international oil company that has had a continuous presence in Iraq for the last 15 years, and has been the only international oil company to maintain an operational office in Baghdad throughout this period. With offices in Erbil, Basrah, and Sulaymania as well, Crescent is firmly committed to the long-term development of the Iraqi oil and gas industry and energy sectors.

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