Iraq awards Crescent Petroleum rights to two oil fields: The Iraqi Oil Ministry awarded Sharjah-based energy company Crescent Petroleum the rights to two oil fields in Iraq’s fifth oil and gas licensing round, Reuters reports. The ministry now expects the oil company to submit its investment offering to explore the two fields.

Crescent is no stranger to Iraq: Iraq activated three energy contracts inked with Crescent Petroleum last month to commence operations in developing oil and gas fields in Iraq. The three 20-year agreements with the Iraqi Oil Ministry were originally signed last February, granting the UAE-based oil company the rights to develop oil and natural gas fields in Iraq’s Basra and Diyala provinces in northeastern Baghdad. Under the contracts, the company is expected to produce 400 mn cubic feet of natural gas per day over 18 months.

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