Middle East Economic Survey


No 22



Crescent Petroleum To Drill Two New Wells In Mubarak Field

Sharjah-based Crescent Petroleum is to drill two new infill wells in the offshore Mubarak field in the coming year with the aim of boosting oil and gas production there. Crescent has signed a $25-28mn development agreement with Texas-based Sky Petroleum to jointly carry out the work. A Sky Petroleum statement on 18 May said the company had reached a definitive agreement with...