CEO of "Crescent": billion invested in the Kurdistan region in Iraq
Posted 07/03/2012 01:14 AM

BAGHDAD - "squares of liberation"
Said Majid Hamid Jafar, CEO of Crescent Petroleum, Vice Chairman of Al Hilal Group, Member of the Board of Directors of Dana Gas and board member of the Chamber of Commerce and Industry (SCCI) that the natural gas sector is growing globally is unprecedented and it is one of the most important sources of energy for this century, describing them as fuel twenty-first century.
And on the pace of the company's production in the Kurdistan region of Iraq, said Jafar " is proud of Crescent Petroleum and its partner Dana Gas is understood to the largest investors in the oil sector in Iraq, where we have invested about one billion U.S. dollars in our projects in the Kurdistan region of Iraq since 2007. We are currently producing 65 thousand barrels of oil equivalent, including 300 million cubic feet of gas per day and 14 thousand barrels of condensate per day. "

Majid Hamid Jafar, CEO of "Crescent"

He adds, "contributes to the fuel that provide its power plants Mahlitin in the provision of electric power are almost permanently to the millions of people in the Kurdistan region, as we also create jobs and improve living standards, we have established a pipeline length of 180 km in the mountainous region, and we had sometimes to remove the fields that stood in the way of mines, as we import tens of thousands of equipment load more than 3 thousand trucks.
And about the aspirations of the company to work in other parts of Iraq, he said, " Certainly, provided the right conditions to make it available to the company a good chance. has existed Crescent Petroleum in Iraq over 20 years, and during the nineties we have to negotiate on the development of a field in southern Iraq, but like others companies could not sign because of international sanctions. We conducted a recent exploratory studies for the benefit of the oil ministry in Baghdad and we Bramja training for their employees. In our offices in Baghdad, Erbil and Basra, the proportion of Iraqi employment by 100%. but we expect also to take some important steps. "
And Bashonalmauqat that stands in front of the evolution of the energy sector in Iraq, said Jafar, " said the central government in Iraq last year before the elections it will produce 12 million barrels per day during the seven years, although it is now producing only between 2 to 3 million barrels per day, more little than they were produced before the U.S. invasion in nine years, that is, they intend to achieve in seven years what took the Kingdom of Saudi Arabia 70 years to achieve. did not believe a claim. and after the elections, the central government in Iraq, reducing the production target. Iraq has oil reserves to achieve this, it is ranked second in terms of proven reserves after Saudi Arabia, knowing that the exploration phase the real has not yet begun, which means that these reserves could increase to Iraq occupies the first place. But the challenges to achieving these rates are many, including lack of security and the infrastructure of pipelines and export facilities and the lack of good service companies and employment, but more importantly is the need for a sound policy and a new oil law for the protection of investors, both of which are still absent. "
On the "misunderstanding happening between Kurdistan and the central government on oil contracts and whether he could see a solution soon to the topic," said CEO of Crescent Petroleum, "portrayed the media it as a contrast between Arabs and Kurds, but it is in fact deeper than this. must be aware of that Iraq is in transition from central planning, which is governed by one party and one man over 35 years to the State of federal democracy with powers decentralized and market economy. this reason the Constitution to achieve. But some in Baghdad used the old style, which relies on centralized control and domination state-owned companies to manage the economy, despite the fact that this kind of thinking has outdated and that it violates the Constitution. we can see here in the UAE, the success of the federal system, which encourages the private sector, but many in Iraq are not used after these concepts " .
He added, "It's not the returns of oil, as the constitution stipulates that all revenue from all parts of Iraq turned into a central fund and then be divided according to the census population for each region. Fact that it is about control of the contracts and signed, and whether to allow the sector private investment or reduce it and let the state do everything. has added Kurdistan already a lot of oil reserves and productive capacity of the new through its support of the investment, while that Baghdad has wasted billions of dollars of government funds did not get against which the results mentioned so far.
On the service, enjoy the North with electricity almost always due to the gas that we produce and the power plants that were built through private investment, while the spent Baghdad billions and still suffer from a lack of electricity, more than ever before, which does not reach electricity to the population except for a few hours a day , and this tragedy. "