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Saeed Mohammed Al Tayer, Chairman of the Board of Directors of Dragon Oil, wholly owned by the Government of Dubai, opened the company's largest regional office outside the United Arab Emirates in Ashgabat, Turkmenistan.

The opening ceremony was attended by CEO Ali Rashid Al Jarwan and a high-level official delegation of Dragon Oil board members, confirming the company's expanded investment in the promising Turkmen oil and gas sector.

“The opening of the company's regional office in Turkmenistan is the culmination of more than 25 years of presence here. With this, we inaugurate a new chapter of serious and productive cooperation with Turkmenistan, - said Al Tayer. - It is also a confirmation of the strategic partnership that unites us with the Turkmen government, as Turkmenistan is one of the key countries with vast reserves of oil and gas”.

“Dragon Oil targets increasing its total production in the countries where it operates from the current level of 180,000 barrels to 250,000 barrels per day, which will be a natural growth in production across our various sites by the end of 2025, with Turkmenistan receiving significant attention in this anticipated increase,” Al Tayer was quoted as saying by WAM.

The opening of the new regional office in Turkmenistan will be an important step for the company to achieve its strategic goals, such as venturing the blue hydrogen market by 2029, and increasing its investment by raising oil production capacity in the Turkmen market, which currently stands at about 60,000 barrels, as well as through investment projects in renewable energies.

The new office is located in the center of the Turkmen capital, spanning an area of 1,600 square meters, making it the largest of Dragon Oil's offices in Turkmenistan. It houses more than 60 employees distributed across 15 departments.

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Photo: wam.ae