“Crescent Petroleum”的意思、由来-开放百科全书

Crescent Petroleum is the first and largest private upstream oil and gas company in the Middle East.^[1] Founded in 1971, Crescent Petroleum is headquartered in the Emirate of Sharjah, United Arab Emirates (UAE), with current operations in both the UAE and the Kurdistan Region of Iraq (KRI).

Crescent Petroleum is also the founding and largest shareholder in Dana Gas, the first and largest publicly listed private-sector natural gas company in the Middle East.^[2]^[3]

And is a subsidiary of Crescent Group, a diversified family business that includes Crescent Enterprises, a multinational conglomerate headquartered in the UAE, as the other main subsidiary.

History

Crescent Petroleum's emergence is linked to its offshore discoveries in the Mubarek field in 1972. In 1969, the UAE government granted the Mubarek field to concessionaire Buttes Gas & Oil Co. International Inc., a subsidiary of Crescent Petroleum.^[5]^[6]

Setting the world record at the time, Crescent Petroleum had the Mubarek field in full production within 13 months of its discovery, at a rate of over 60,000 barrels per day. The project brought Sharjah into international recognition.^[7]

Crescent Petroleum's first international venture was in 1973, when it was granted the exploration rights for Block 1, an offshore area in present-day Montenegro, which was then part of Yugoslavia. It was followed in 1981 by concessions for a {{convert|232|sqkm|sqmi|0}} block in the San Jorge Basin of Argentina.

In 1985, Crescent entered into a contract for a gas supply pipeline from Sharjah with the UAE Federal Ministry of Electricity and Water, and in 1986, Finish Neste Oy Neste and the Bahrain-based Intoil signed an agreement with Crescent Petroleum for an offshore drilling program in the Mubarek field. The agreement detailed the drilling of 11 wells between 1986 and 1995 at a cost of $110 million.^[8]

In the same year, Crescent obtained exploration concessions for blocks in the Potwar Basin in Pakistan, later forming a joint-venture with Amoco (today BP), which was held through to 1990.^[9]

During the 1980s and 1990s, Crescent Petroleum secured additional concessions in Canada, France, Tunisia, Egypt, Pakistan, and Yemen.^[10] During the downturn in the energy sector in the 1990s, Crescent Petroleum made the decision to divest itself from its international positions and refocus attention on opportunities in the Middle East and North Africa region.

In 1991, Crescent established the first intra-emirate gas pipeline in the UAE, which connected the offshore Mubarek Facilities and Jebel Ali, Dubai and that same year entered Yemen with an exploration concession for Block 2 and 9, cooperating with British Gas, Louisiana Land and Exploration Inc., Clyde Petroleum, Itochu Corporation and Indonesia Petroleum Limited (Inpex).^[12]^[13]

In 1996, Enterprise Oil (Shell) signed an agreement with Crescent to further develop Mubarek field. The agreement entailed $25 million for a 3D seismic survey of the field and the drilling of at least two new wells, with a 40% share of future output from the wells going towards Enterprise Oil.^[14] In the next year, Crescent entered an agreement for further exploration of Mubarek with China National Petroleum Corporation.^[15] In 1999, the company was awarded a concession for Sir Abu Nu'ayr in the UAE and in 2001, entered into a shared agreement with Sinochem to develop the Atlantis and other fields offshore Ajman, Ras Al Khaimah and Umm Al Quwain.^[16]

In 2002, Crescent became the technical operator for the Bukha field, offshore Oman. And for concessions in Ajman, Umm Al Quwain and Ras Al Khaimah. ^[17] In 2004, an agreement with Indago Petroleum (Previously Novus Petroleum) was signed to further develop the Mubarek Field.^[18]

In 2007 Crescent entered the Kurdistan Region of Iraq (KRI). It obtained concessions for the Kormor and Chemchemal fields. In 2008 production of natural gas commenced.^[20] In the same year, Gas Cities was established as a joint-venture between Crescent Petroleum and Dana Gas. The new company was established to create industrial cities in the MENASA region (Middle East, North Africa and South Asia), which are designed to systematically use natural gas as fuel and feedstock for industrial projects.^[21]

From 2012 to 2014, Crescent pre-qualified for various international projects. In 2018 Crescent Petroleum and Dana Gas, through their local operating subsidy Pearl Petroleum, signed an extensive Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG).^[27]^[28]

In the Kurdistan Region of Iraq, Crescent Petroleum and affiliate Dana Gas are the largest private energy investor, having invested over USD 1.32 billion and producing over 1,000 metric tonnes of LPG and 14,000 barrels of condensate per day. It supplies power to the major cities of the Kurdistan Region of Iraq.^[29]

Corporate structure

Overview of corporate structure

More than 25 companies are part of the Crescent Group, with Crescent Petroleum and Crescent Enterprises being the two major and controlling subsidiaries.^[30]

The family business group is led by the Non-Executive Chairman Hamid Jafar with his two sons as key executives. Majid Jafar is Vice-Chairman of the Crescent Group and Chief Executive Officer at Crescent Petroleum. Badr Jafar is Managing Director of the Crescent Group and Chief Executive Officers at Crescent Enterprises.^[31]^[32]^[33]

Other important businesses within the Crescent Group are Gas Cities (LLC), CE Ventures, Uruk Engineering and Contracting and Uruk Project Development, which are providing oilfield services and building power stations and fertilizer plants in Iraq.^[31] Crescent Petroleum, as subsidiary of the Crescent Group, is governed and led by an executive committee.^[34]

Overview of executive committee

The executive committee consists of CEO Majid Jafar, President Badr Jafar, Director Razan Jafar and committee members Abdulla Al-Qadi, Neeraj Agrawal, Ravi Kumar, Muhammed E. Makkawi, Drazen Petkovich, and Thomas S. Watts.^[34]

Previous operations

The first project handled by Crescent Petroleum was the Mubarek field off the coast of the UAE in 1972. Within 13 months from the discovery of the confirmation well in 1972, the field was on full production at a rate of over 60,000 barrels of oil per day, with the drilling of three additional wells, the installation of the processing platform, an additional wellhead platform, export loading terminal, pipelines, and associated support structures. This was a world record at the time for bringing an offshore field onstream from oil discovery.^[29]

Crescent Petroleum has also earned several operational world records including the deepest short radius horizontal section drilled and the deepest slim hole to be cased by expandable casing.^[35]

Since the start of production in 1974, the Mubarek field has undergone several development phases. In 1977, Crescent Petroleum completed the initial phase of the development of Ilam/Mishrif oil reservoir, at a depth of {{convert|4700|m|ft|-1}}. The company commenced the development of the Thamama gas condensate reservoir at a depth of {{convert|4700|m|ft|-1}}, in 1987 for the production of gas and condensate.^[36]

In the early 1990s, Crescent Petroleum established a central gas processing facility in the field and constructed a {{convert|150|km|mi|-1|abbr=on}} offshore pipeline to export gas to Jebel Ali in Dubai.^[37] In late 2005, it drilled further infill wells to increase petroleum production.^[38]

In 1991, Crescent Petroleum launched the Gulf-South Asia Gas Project (GUSA), the first workable project for producing, transmitting by pipeline, and delivering natural gas from Qatar to Pakistan and eventually other locations across South Asia.^[39]^[40] The company advanced the project to a state of pre-implementation maturity; however, the project was aborted due to political constraints.

In 2001, Crescent Petroleum discovered the Zora gas field—currently owned and operated by Dana Gas—off the coast of the United Arab Emirates and has drilled in it two horizontal wells that both tested positive for hydrocarbons.^[41]

Current operations

Crescent Petroleum has current operations in the United Arab Emirates (UAE) and the Kurdistan Region of Iraq (KRI), and interests in Egypt through its affiliate Dana Gas.^[42]

During the slow-down of the energy sector in the 1990s, after two decades of international exploration and development, Crescent Petroleum decided to concentrate their operations in the MENA / MENASA region. The company is headquartered in the UAE, currently has international offices in the UK^[43] and across Iraq and operates mainly across the following locations:^[44]

Iraq

Crescent Petroleum has had a continuous presence in Baghdad for over 30 years and has

The company has offices in Erbil, Sulaymaniyah and Basra,^[43] coordinating the company's engagement in Iraq. Crescent was involved in developing contracts for ten large oil field with reserves between one and ten billion barrels in the 1990s. In 2005, Crescent signed a Memorandum of Understanding (MoU) with Iraq's Oil Exploration Company (OEC), a branch of the Iraq's Ministry of Oil,^[47] detailing a multi-level cooperation and an appraisal study for one of the existing giant oil fields in southern Iraq. Crescent agreed to train personnel from the Ministry of Oil and affiliated companies and helped in the process of implementing the appraisal study. In order to also execute the other details of the MoU effectively, Crescent and the Ministry of Oil have set up a Joint Steering Committee for technical cooperation, which also coordinates Crescents involvement in the development of the Ratawi oil field, a major oil field (over 10 billion barrels of estimated capacity) in southern Iraq, which Crescent has already explored in earlier studies.^[48]^[49]

Together with Dana Gas, Crescent Petroleum was considered to develop the large Akkas gas field in the Anbar region, creating as many as 100,000 jobs in the province. Due to political tensions over the company's engagement in the KRI and other reasons, the deal has not yet come into existence.^[50]

Khor Mor and Chemchemal fields

In April 2007, Dana Gas entered into agreement with the Kurdistan Regional Government for the appraisal and development of two major gas fields in the Kurdistan Region of Iraq (KRI), Khor Mor and Chemchemal.^[51]

The fields lie in the Sulaymaniyah province and their current production reserves are estimated to be around 11.7 trillion cubic feet, with future potential.^[52] In October 2007, Dana Gas assigned 50% of its interest in the contract to Crescent Petroleum. Dana Gas and Crescent Petroleum began operations on the fields as joint operators and have remained as such ever since. The terms of the contract grant exclusive rights to appraise, develop, market, and sell petroleum products from the substantial Khor Mor and Chemchemal gas fields, and to provide natural gas supplies to fuel two major domestic electric generation plants being built in Erbil and Chemchemal as well as for local industries and export.^[53]^[54]

Crescent and its affiliate Dana Gas were one of the first international oil and gas companies to be invested in the KRI, following their families commitment to the region: In the 1950s the grandfather of Majid Jafar had opened two hydroelectric dams in the KRI and, when in 2008 the companies started the production of Kurdish gas,^[55] they were the first ones to develop and execute the infrastructure to supply two domestic power-plants in the KRI since then.^[31]^[46]

The project was implemented 15 months following the signature of the initial agreement. It involved upstream development (the hook up, testing and re-commissioning of existing gas wells, acquiring 2D seismic data and installing gas separation and treatment facilities), the construction of two liquefied petroleum gas (LPG) plants and {{convert|180|km|mi|0}} of pipeline in mountainous terrain, that was interfused with minefields, which were cleared in cooperation with the Nonprofit organization Mines Advisory Group (MAG).^[56]^[57] The company invested more $1.1 billion in the gas plants, which produce over 305 million cubic feet of gas and 15,000 barrels of natural gas condensates per day.^[55] Gas deliveries to the Erbil power station commenced in October 2008.^[58]

In February 2009, Dana Gas and Crescent Petroleum transferred their participating interests to Pearl Petroleum Company Limited, a joint venture company owned equally by Dana Gas and Crescent Petroleum. Later that year, OMV of Austria and MOL of Hungary, two major European energy companies, each became 10% shareholders in Pearl Petroleum. OMV agreed to pay an initial $350 million and MOL entered the deal by exchanging 3% of its shares for the 10% stake in Pearl (3% of MOL shares went to both Crescent Petroleum and Dana Gas). Both companies also held a 16.67% stake in the Nabucco pipeline project, which aimed to provide gas to the European market and in which Crescent Petroleum was partnering as well.^[59]^[60]

The natural gas that was originally planned to be supplied into the Nabucco pipeline would have mostly come from the Chemchemal field, while the Khor Mor field was intended to supply the power plants in Pir Daoud and Chemchemal.^[52] In 2015, RWE of Germany became the third member with a 10% share of the company.^[61]

Pearl Petroleum's investment in the Kurdistan Region of Iraq's gas project is one of the largest private sector investments in the KRI's oil and gas sector and provides electricity supply to over four million people in Iraq. Based on 2016 oil prices, it achieved over USD 1.56 billion of recurring annual savings in fuel costs for the KRG from the migration from diesel to gas to fuel the power plants. The direct project benefits to the KRG arising from this migration from inception to 2016 is USD 19.7 billion. The reduction of greenhouse gas emissions following the transition at both power plants is valued at about USD 300 million per annum.^[62]

The company's production facilities also support independence from the, often failing, energy infrastructure which used to be mainly controlled from Baghdad. They made the KRI the only part of Iraq with reliable energy electricity supply, which went from around 2 hours / day up to 22h / day since the implementation of the first project steps.^[31]^[32]^[63]^[64]

Pearl Petroleum currently produces over 83,800 barrels of oil equivalent per day in the KRI. The daily production includes 330 million cubic feet of gas per day and 13,000 barrels of condensate, with an LPG capacity of over 1,000 tonnes per day. Pearl Petroleum’s total cumulative production from 2008 to August 2017 was more than 214 million boe, including 875 bcf of gas, 37.5 million barrels of condensate and 1.15 million tonnes of LPG.^[65]

In August 2017, Pearl Petroleum settled an arbitration case with the KRG, which had been open since 2013, receiving $1 billion in recoupments and agreeing to further expand their future operations in the region generally and the Khor Mor and Chemchemal fields specifically.^[66]^[67]^[68]^[69]

In January 2018, Pearl Petroleum signed a new 10-year Gas Sales Agreement (GSA) with the KRG, agreeing to increase gas production from the Khor Mor Field by 25% in order to sell and supply additional capacities for domestic energy demands. The agreement detailed an anticipated total of 385 million cubic feet of gas per day before the end of 2018, adding 80 million cubic of production capacity.^[70]^[71]

The debottlenecking project of Khor Mor^[55] is the first step in implementing a total increase of 125% within the next two years, aiming at a total of 900 million cubic feet per day and an extra investment from Pearl Petroleum of over $600 million in the coming years. The company employs around 500 regional staff and seeks to further increase this number through local trainings and investments into the regional socio-economic infrastructure, including education and healthcare facilities and support programs for displaced Iraqis.^[70]^[72]

In 2018, Iraq's oil ministry granted licenses to explore oil and gas blocks in zones bordering Iran and Kuwait. Crescent Petroleum obtained concessions to explore and develop three of these blocks. The Khashim Ahmer-Injana and the Gilabat-Qumar blocks - both of which lie in the Diyala Governorate and are gas concessions - and the Khider Mai block, which is an oil-exploration block and lies on the border to Kuwait.^[73]^[74]^[75]

Associated projects

In 2008, the KRG assigned a 17 square mile area to Gas Cities (LLC) to establish the first "Kurdistan Gas City" in the Northeast of Iraq, near the Chemchemal gas field.

Hamid Jafar said, that this would represent "an enormous step forward" and continue the work of the company to strengthen the Iraqi economy and improve the livelihood of the people. The complex would include industrial, residential and commercial buildings in an integrated city and was expected to provide around 200,000 local jobs. Initial investments were planned to exceed $3 billion.^[76]^[77]

UAE

Sharjah onshore concession

In May 2010, Crescent Petroleum and the Russian government-owned oil company, Rosneft signed a strategic cooperation agreement to jointly develop material oil and gas opportunities in the Middle East and North Africa region.^[78]

The following month, the two companies signed a farmout agreement in the presence of Russian Deputy Prime Minister Igor Sechin. Under the terms of the agreement, both companies would jointly develop the Sharjah onshore concession, with Rosneft holding a 49% stake as participating interest.^[91] The two companies agreed to invest nearly USD 60 million in initial exploration activities, including the drilling of two oil wells to a depth of {{convert|4500|m|ft|-1}}.^[79] The project aimed to produce condensates and natural gas liquids that could be consumed domestically and exported internationally. The agreement also included the responsible development of local infrastructure.^[78]

Since 2014, two wells have been drilled.^[79] The concession was relinquished in February 2016.

Sir Abu Nu'ayr concession

The island of Sir Abu Nu'ayr (SAN), located at the centre of the 12 nautical miles concession area, is part of the Emirate of Sharjah and is located {{convert|80|km|mi|0}} offshore of Abu Dhabi, in the middle of the offshore oil territory. The acreage is flanked to the east by Dubai's Fateh oil field complex, to the north by the Sirri oil field of Iran and to the west by the oil and gas fields of Abu Dhabi.^[80]

Crescent Petroleum carried out successful a 2D seismic acquisition in 1999 in the field. It followed it in 2008 by a comprehensive 3D/2D survey design study that used Raytrace modelling and included all target reservoirs across the island and the entire concession area.

A further study in 2009 developed the play concepts of the salt-related structures based on available data. In 2012, Crescent Petroleum conducted an Airborne Gravity and Magnetic Survey over SAN and it surrounds, covering an area of {{convert|400|sqkm|sqmi|-1}}, to develop the exploration work programme.

Corporate citizenship

Beyond its activities in the oil and gas sector, Crescent Petroleum invests in healthcare and education across the UAE and Iraq.

In 2015, Crescent Petroleum partnered with Edraak, the Arabic language online learning platform initiated by the Queen Rania Foundation for Education and Development, to deliver a series of three English language courses to thousands of learners across the Middle East and North Africa.^[81]

In 2017, Crescent Petroleum joined forces with the AMAR Foundation, a charity that supports vulnerable populations in the Middle East, to extend life-saving healthcare services and vocational training to over 17,000 internally displaced people at the Khanke camp in Duhok, in the Kurdistan Region of Iraq.^[82]

See also

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