'Gas Cities’, are self-sustaining, fully integrated industrial cities designed for the systematic and comprehensive utilization of natural gas as fuel and feedstock, being developed across the Middle East, North Africa and South Asia (MENASA) region by GasCities Limited, a joint venture company that being established by Crescent Petroleum and Dana Gas. GasCities Limited, as a venture dedicated to the introduction and development of this unique concept, which will give rise to formidable public-private sector partnerships in their host countries. This will promote economic activity; bringing substantial foreign investments directly into the local markets; catalyzing economic growth across a wide spectrum of business sectors, thereby encouraging more investment-driven developments to grow job placements. The partners in this venture, Crescent Petroleum and Dana Gas PJSC, have extensive expertise in all aspects pertaining to Oil & Gas industry we believe Gas Cities has the critical connections required to make our proposed JV a complete success, including strong ties with some of the leading regional oil & gas players.
Crescent Petroleum commenced its activities in the early 1970’s and was the first regional, independent, privately-owned Middle East petroleum company to engage in the acquisition, exploration and development of petroleum concessions. They have made their presence in the production and sale of crude oil, petroleum products and natural gas. The company is headquartered in Sharjah, UAE, with international offices strategically located in the UK, Iraq and Iran and affiliate offices in Canada and Egypt.
Crescent Petroleum traces its origin to Buttes Gas & Oil Co. International Inc., a wholly owned subsidiary of Crescent Petroleum and holder of a Concession granted in 1969 by the Sharjah Government, pursuant to which the Mubarek Field was discovered offshore Sharjah in the early 1970’s. By the mid-eighties the Crescent Petroleum Group was fully established, appropriately reorganized, and made its mark on the international energy scene.
Dana Gas is the first regional private-sector natural gas company in the Middle East, established with more than 300 distinguished founder shareholders from across the Gulf Cooperation Council (GCC) region, and some 400,000 investors from over 100 nationalities worldwide who submitted applications of over US$ 78 billion over ten days in the company's regional IPO during late 2005.
Headquartered in Sharjah, UAE and listed on the Abu Dhabi Securities Exchange (ADX), Dana Gas already possesses a wide network of offices in Saudi Arabia, Kurdistan Region – Iraq, Egypt, the UK, and Canada, with further offices opening throughout the Middle East. Dana Gas currently has assets and projects in gas exploration and production, processing, transportation and marketing in several countries, and aims to play a major role in the rapidly-growing natural gas business throughout the Middle East, North Africa and South Asia (MENASA) Region across the entire gas value chain.