UAE's Crescent Petroleum, Russia's Rosneft eye opportunities in MENA.

By bne IntelliNews May 20, 2010
UAE's oil company Crescent Petroleum and Russia's state-run oil producer Rosneft agreed to pursue oil and natural gas deals in the MENA region with a focus on opportunities in the Gulf region, Crescent said in a statement. The partnership aims to benefit from Rosneft's technical expertise and Crescent's knowledge of the MENA region. The company added that it agreed with Rosneft to launch their fist first joint project in the GCC region within the coming weeks. Crescent is a privately-held energy company based in Sharjah with operations in Iraq, Egypt, Yemen and Oman, while Rosneft is the largest oil producer in Russia and pumps over a fifth of the country's oil.

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