Crescent Petroleum Wins the Rights to Two Oil Fields in Iraq

An Iraqi oil employee checks pipelines at the Bai Hassan oil field, west of the northern Iraqi city of Kirkuk, Oct. 19, 2017. (AFP file photo)
An Iraqi oil employee checks pipelines at the Bai Hassan oil field, west of the northern Iraqi city of Kirkuk, Oct. 19, 2017. (AFP file photo)
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Crescent Petroleum Wins the Rights to Two Oil Fields in Iraq

An Iraqi oil employee checks pipelines at the Bai Hassan oil field, west of the northern Iraqi city of Kirkuk, Oct. 19, 2017. (AFP file photo)
An Iraqi oil employee checks pipelines at the Bai Hassan oil field, west of the northern Iraqi city of Kirkuk, Oct. 19, 2017. (AFP file photo)

Crescent Petroleum, a United Arab Emirates-based company, has won the rights to two oil fields in Iraq's fifth oil and gas licensing round, according to a statement from the Iraqi oil ministry on Sunday.

Another company won the rights to the Howaiza oil field in the same round, the statement added.



Saudi Arabia Adopts Advanced Technologies for Road Sustainability, Logistics Efficiency

The acting CEO of the Saudi Roads Authority speaking to the audience during a panel discussion (Asharq Al-Awsat)
The acting CEO of the Saudi Roads Authority speaking to the audience during a panel discussion (Asharq Al-Awsat)
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Saudi Arabia Adopts Advanced Technologies for Road Sustainability, Logistics Efficiency

The acting CEO of the Saudi Roads Authority speaking to the audience during a panel discussion (Asharq Al-Awsat)
The acting CEO of the Saudi Roads Authority speaking to the audience during a panel discussion (Asharq Al-Awsat)

Badr Al-Dulami, CEO of the Saudi General Authority for Roads, announced that advanced technologies are being used to recycle road layers in Saudi Arabia. This has sped up maintenance by 40%, improved cost efficiency, and helped protect the environment.

Speaking at the “Supply Chain Conference” in Riyadh, Al-Dulami said Saudi Arabia's road network exceeds 500,000 kilometers, making it the top country in connectivity and the fourth-best in road quality among the G20 nations.

Al-Dulami also noted that the “Saudi Road Code” is designed to keep up with future changes, including performance-based maintenance contracts.

He highlighted key projects, such as the opening of the Eastern Interchange in Riyadh to reduce traffic and redirect trucks, and the Second Ring Road in Jeddah, which moves trucks outside the city to improve logistics flow.

Al-Dulami emphasized that safety, quality, and sustainability are key to transportation strategies, with a safe and high-quality road network being essential for a successful logistics system.

He also mentioned that the transportation and logistics strategy now focuses on these key areas. To support the growing demand, the authority introduced a system for issuing permits for transporting heavy loads.

Ahmed Al-Hassan, Assistant Minister of Transport and Logistics Services, highlighted that the ministry is focused on strategies to connect Saudi Arabia globally and increase its competitiveness, with a special emphasis on developing local talent to support Vision 2030.

On the second day of the conference, global experts gathered to discuss best practices for improving supply chain efficiency.

Mansour Al-Qahtani, from the Saudi Electricity Company, pointed out the role of artificial intelligence in improving data security and helping companies manage potential threats, boosting overall sector efficiency.