BAKU, Azerbaijan, February 6. The State Oil
Company of Azerbaijan (SOCAR) and Crescent Petroleum have explored
potential cooperation opportunities, Trend reports, citing
SOCAR.
SOCAR President Rovshan Najaf met with Majid Jafar, CEO of
Crescent Petroleum, to exchange insights about their respective
companies’ activities. During the meeting, both parties discussed a
wide range of opportunities for collaboration across various areas
of the energy sector.
SOCAR operates in diverse sectors, encompassing oil and gas
field exploration, oil, gas, and gas condensate extraction,
processing, and transportation, alongside the distribution of oil
and petrochemical products in both domestic and international
markets.
Furthermore, the company plays a crucial role in supplying
natural gas to both industrial enterprises and the general
population of Azerbaijan, as well as extending its services to
Europe.
Additionally, the company engages in significant trading
operations primarily based in Switzerland, Singapore, and
Nigeria.
Crescent Petroleum is the Middle East’s first and largest
privately-owned upstream oil and gas company. Established in 1971,
the company is headquartered in Sharjah, United Arab Emirates
(UAE). As of 2023, Crescent Petroleum has signed three 20-year
contracts with the Iraqi Ministry of Oil, reinforcing its
commitment to supporting Iraq’s energy sector redevelopment.
In addition to its core operations, Crescent Petroleum is the
founding and largest shareholder of Dana Gas, the region’s first
and largest publicly traded private-sector natural gas company.
Crescent Petroleum operates as a subsidiary of Crescent Group,
which also includes Crescent Enterprises, a multinational company
based in the UAE.