Crescent Petroleum, the Middle East region's oldest private upstream oil and gas company, has announced the signing of a Memorandum of Understanding (MoU) with the AMAR International Charitable Foundation for cooperation to support capacity-building and local communities in Iraq. The MoU - signed at Crescent Petroleum's London offices by Baroness Nicholson of Winterbourne, executive chairman of AMAR, and Majid Jafar, Executive Director of Crescent Petroleum - forms part of a landmark corporate social responsibility (CSR) program initiated by Crescent Petroleum, which focuses on environmental, educational and community development in Southern Iraq. “We at Crescent Petroleum are delighted to to enter into this agreement with AMAR Foundation to empower the Iraqi people,” said Majid Jafar, executive director of Crescent Petroleum. “AMAR's exceptional humanitarian work within the country, particularly in the focus areas of public health, education and livelihood, places them in the perfect position to support Crescent Petroleum in our commitment to rebuilding Iraq. The purpose of the agreement is to empower the Iraqi people socially and economically through a variety of initiatives, to support local communities and help with the development of a stable, peaceful and prosperous Iraq.” “This important partnership will be a major step towards our joint goal of a healthy, strong and knowledge-based society, with a secure future for all the Iraqi people,” said Baroness Nicholson of Winterbourne, executive chairman of AMAR Foundation. Crescent Petroleum will be providing sponsorship over a three-year period for the creation of the Amar-Crescent Development Center. The Centerwill provide a platform for students to conduct petroleum- and Marshland-related research within the context of Iraq's geology, environment and society in full partnership with the Marshland communities. The Center will give enrolled students and researchers the opportunity to analyze and share best practices, particularly in the fields of economic development, capacity building and community empowerment in the Marshlands. The involvement will allow for the development of strategies for improving the education system and healthcare infrastructure, thereby enhancing the unique model of co-existence of the Marshland people with their exceptional natural environment. The project and financial disbursement timetable will be finalized within 60 days of the signing of the MoU, and quarterly progress meetings will provide updates on the project, as well as giving representatives of the two organizations the opportunity to address any issues raised during the previous quarter, and to coordinate any upcoming activities. In addition to covering the creation of the AMAR-Crescent Development Center, the MoU outlines the pledge by Crescent Petroleum and AMAR to explore, on an ongoing basis, other potential avenues for cooperation in order to benefit the economy, education and health of the people of Iraq. Besides the cooperation with AMAR, various CSR projects have already been delivered by Crescent Petroleum for the Iraqi people including sponsoring three Iraqi universities to attend international conferences, building new units for health clinics, supporting schools in needy neighborhoods, establishing sport & recreation facilities for local villages, and supplying clean-water facilities and electrical generators for local communities in northern Iraq. __
