The UAE-based Crescent Petroleum is setting a strategy to double natural gas production in the Kurdistan Region of Iraq (KRI) over the next two or three years, according to Majid Jafar, the company’s CEO, and board member at Dana Gas, Mubasher reported.

Jafar further explained to Al Khaleej newspaper that current crude oil prices near $70 a barrel will help maintain the balance between producers and consumers, noting that an international arbitration case was filed against Iran because of the damages caused from 2014 to 2030.

On the other hand, Jafar pointed to the optimistic situation of Egypt in terms of paying back arrears.