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Dragon Oil has become a diamond partner of the international forum on attracting foreign investment in the oil and gas sector of Turkmenistan, which will be held on April 26-27, 2023 in Dubai, UAE.

Dragon Oil is an international oil and gas company with a solid history and experience in the Middle East, North Africa and the Caspian region. The company's portfolio includes a production base of over 180 thousand barrels per day and a resource base of over 1 billion barrels per day.

Since 2000, Dragon Oil has been successfully operating in the Cheleken contract area in Turkmenistan, as well as in the Gulf of Suez in Egypt and Block 9 in Iraq. The contract site in Cheleken includes two producing oil and gas fields, Jeytun and Dzhigalybeg, which are located at a depth of 10 to 30 meters.

Since 2017, the company has been actively implementing a development strategy aimed at creating a sustainable and value-added portfolio through key acquisitions in Egypt and Iraq and extending the concession for 10 years until 2035 in Turkmenistan. This, in turn, provides high value for shareholders.

It is worth noting that Dragon Oil has achieved a cumulative annual growth rate (CAGR) of gross production at the level of 12%.

Dragon Oil's long—term strategy includes the transformation of the company into an international diversified mining enterprise that relies on high safety standards, responsibly approaches environmental issues and ethics.

The main strategic goal of Dragon Oil is to increase production to 300 thousand barrels of oil per day by 2026 due to organic and inorganic growth.

Dragon Oil is owned by the government of Dubai through Emirates National Oil Company Limited (ENOC), which acquired a stake in the company in 1998.

In 2015, Emirates National Oil Company Limited (ENOC) acquired a 100% stake in Dragon Oil.

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Photo: egyptoil-gas.com