Crescent Petroleum and Iraq's Ministry of Oil hold first meeting of Joint Steering Committee

The meeting was chaired by a senior director from the Iraqi State Oil Projects Company (SCOP), and attended by directors from the Iraqi Oil Drilling Company (IDC) and Oil Exploration Company (OEC), as well as five senior delegates and technical experts from Crescent Petroleum. This represents the kick off meeting of the Joint Steering Committee (JSC), which was formed this year to facilitate and implement the Memorandum of Understanding signed at Crescent's Sharjah headquarters in November 2005.

In a spirit of cordial cooperation the parties discussed the items on the agenda which included the planning for the execution of the joint exploration and appraisal study on a block assigned for Crescent in the Basrah province in Southern Iraq, and the training program for Ministry of Oil personnel, both on the job and at specialised training centres. Technical teams from the two sides are expected to meet next month to review the basic seismic and well data of the block and agree on the detailed study and training programs.

Crescent has already carried out studies on other areas and fields in Iraq, notably the Rattawi major oil field in Southern Iraq, where the company has undertaken detailed studies and contract negotiations for its development.

Crescent Petroleum, which is the only international company that maintains an operational office in Baghdad, has been operating as an upstream oil and gas company in the Emirate of Sharjah and the Middle East for over thirty five years.