Sharjah-based Crescent Petroleum hopes to sign four major contracts in the Middle East and North Africa in 2007, valued at US $500 million.
“We are about to sign two major contracts…one with the Yemeni government and the other with another operator,” said Abdulla Al Qadi, director of Crescent Petroleum’s upstream operations.
Crescent will reserve most of its investments for exploration in Iraq, but will also bid for contracts in Iran.
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