In 2001, Crescent Petroleum signed a deal to import natural gas from Iran's offshore Salman field through a pipeline jointly built by Iran and Crescent.

In 2005, Crescent became the cornerstone investor in Dh6 billion Dana Gas, the region's first private-sector gas processing and distribution firm, listed on the Abu Dhabi Stock Market.

Iranian Ministry of Petroleum in 2010 had a contract with Crescent Petroleum Co. to export natural gas to the UAE, but the agreement was abruptly cancelled after disclosure of corruption involved in the deal.

Speaking to reporters on the sidelines of the opening ceremony of the Oil Industry Innovation and Technology Park on Monday, Zangeneh responded to a question about the comments of some presidential candidates on the issue of increasing gasoline prices: “Gasoline prices increase in line with the decision of the leaders of the three powers.”

In response to a question about the promise of a subsidy of Rls. 4,500,000 from some presidential candidates, he said: "These numbers have nothing to do with me, it is important that they know that whatever they say should be held accountable."

The Minister of Petroleum further mentioned the opening of the Innovation and Technology Park of the oil industry and the signing of several agreements with the Ministry of Science and universities, adding: "There is a great capacity to develop knowledge-based activities in the oil industry, which I hope will be used well in the future."