UAE-based Crescent Petroleum has invested over $3 bln in Iraq -CEO

Reuters
Updated

DUBAI, Dec 10 (Reuters) - United Arab Emirates-based energy firm Crescent Petroleum has invested over $3 billion in Iraq, its chief executive said on Tuesday.

"We have invested over $3 billion in Iraq over the last 10 years and that rate is increasing," Majid Jafar said, speaking on a panel at a conference in Abu Dhabi.

In March, a consortium led by Crescent Petroleum and Dana Gas signed a 20-year gas sales deal with Iraq's Kurdish region. (Reporting by Stanley Carvalho, writing by Nafisa Eltahir; editing by Jason Neely)