Middle East Economic Survey

VOL. LI

No 9

3-March-2008

UAE

Crescent Petroleum Signs Sharjah Oil And Gas Exploration Agreement

The Sharjah government and Crescent Petroleum on 25 February signed an oil and gas exploration agreement, covering a 1,250 sq km area south and southeast of the Sajaa gas field in Sharjah. Under the 25-year agreement, Crescent will conduct seismic surveys and drill two exploratory wells. In the event of a commercial discovery, the company will develop the area. Crescent,...