Founded in 1971 by Hamid Jafar as a joint venture between international oil companies to develop Sharjah’s offshore Mubarek field, Crescent Group has grown into a diversified conglomerate operating across oil and gas, ports and logistics, power and engineering, aviation, healthcare, media, and private equity. Its portfolio includes more than 25 companies, under two core subsidiaries, Crescent Petroleum and Crescent Enterprises, including a 20% stake in ADX-listed Dana Gas. In 2025, a consortium co-led by Crescent Petroleum and Dana Gas completed the KM250 expansion at its Khor Mor operation, increasing natural gas production capacity to 750 million cubic feet per day. The project secured $3.5 billion in investments, while the group’s investments in Iraq exceeded $5 billion.