Dragon Oil – Bronze Sponsor of the OGT 2021 International Investment Forum

Dragon Oil – Bronze Sponsor of the OGT 2021 International Investment Forum

On 12-13 May, Ashgabat will host the International Forum for Attracting Foreign Investments to the Oil and Gas Sector of Turkmenistan, dedicated to the 30th anniversary of Independence of Turkmenistan. And gather the senior management of leading national and international oil and gas companies, international financial institutions, as well as experts who shape the future of the oil and gas industry not only in Turkmenistan, but also in the wider region.

According to the Organizing Committee of the Forum, during the two-day event in the capital of Turkmenistan, the impressive group of speakers will deliver speeches on a wide range of topics and business interests, such as global trends in the development of the fuel and energy sector, energy diplomacy of Turkmenistan, the implementation of the TAPI gas pipeline, attracting investments to the Turkmen sector of the Caspian Sea, prospects for gas chemical projects, etc.

Among the gold sponsors of the conference is Dubai-based Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC). Under the Production Sharing Agreement, Dragon Oil works in Turkmenistan since 1993. Its principal producing asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan that comprises two offshore oil and gas fields, Jeitun and Jygalybeg. As operator, the company was granted a production license for the exploration and development of oil and gas resources in the Cheleken Contract Area from May 2000. During this period, the company invested more than 7.5 billion US dollars.

During this time, Dragon Oil has drilled new wells, built production and focal offshore fixed platforms, overhauled existing wells, reconstructed and re-equipped all parts of the system.

In 2014, at Jygalybeg offshore, the company completed the construction of offshore production fixed platform and started drilling new wells.

By 2025, Dragon Oil hopes to expand production and increase oil production to 100 000 barrels per day. According to Ali Rashid Al Jarwan, Chief Executive Officer of Dragon Oil, the oil and gas exploration and development company is aimed to increase the total production at all sites three times.

In Turkmenistan, Dragon Oil makes a significant contribution to the social and economic development of the country through its primary production activities. The company is one of the largest employers and employ over 2000 employees of whom the majority are Turkmen nationals.

From 2005 to the present, the company undertook more than 400 of education, sport and cultural-based projects.

The company was one of the sponsors of the World Weightlifting Championships, held in November, 2018, assisted in opening a branch of the International Union of Petroleum Engineers in Turkmenistan and funded the sound recording of works by Nury Halmammedov on the anniversary of the composer.

Dragon Oil also holds the Company’s Cups in various sports in the Balkan province and in Ashgabat.

In 2015, for graduates of schools in the city of Hazar, the company has introduced a comprehensive scholarship program in technical fields related to the oil and gas industry. Students are offered an opportunity to study at Tomsk Polytechnic University. Today, under this program, there are 44 students studying in such areas as oil and gas, chemical technology, automation of technological processes and production.

Dragon Oil has a special approach to the implementation of charity projects. Among the beneficiaries are “Ýeňme” (“Overcoming”) public organization, the Society of Disabled People of Turkmenistan, the National Paralympic Committee, the Rehabilitation Center, the National Center for Special Olympiad, etc.

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