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.