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The UAE oil company Crescent Petroleum is planning to produce nearly 700 million cubic feet of gas per day (mcf/d) in a project to develop four fields in Iraq under a 20-year contract, a company adviser was quoted on Monday as saying.
Mohammed Al-Saadi told Iraq’s Baghdad Today news agency that two fields are located in the Southern oil hub of Basra and two in the Northeastern Diyala province.
He said Crescent Petroleum is the first Arab oil firm to be granted hydrocarbon concessions in Diyala as part of Iraq’s fifth licensing round.
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