 Jafar is also the President of Crescent Enterprises' sister company Crescent Petroleum, a privately-owned oil and gas company headquartered in the United Arab Emirates.He is Chairman of Pearl Petroleum, a five-member international consortium for the development of natural gas assets in the Kurdistan Region of Iraq, and Chairman of the Executive Board of Gulftainer, a global ports and logistics company.He launched the Pearl Initiative in September 2010 at the United Nations, a private sector-led initiative to promote corporate governance, accountability and transparency within the Gulf region of the Middle East.