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Ashgabat Celebrated Dragon Oil's 25th Anniversary in the Caspian Sea – A Milestone in Energy Diplomacy

21.10.2025 | 22:15 |
 Ashgabat Celebrated Dragon Oil's 25th Anniversary in the Caspian Sea – A Milestone in Energy Diplomacy

On October 21, Ashgabat celebrated the 25th anniversary of Dragon Oil (Turkmenistan) Ltd.'s operations at the Cheleken oil field. The anniversary celebrations, held at the Yildiz Hotel, brought together company management and representatives of Turkmenistan's oil and gas sector, foreign ambassadors, and heads of partner companies in the energy sector.

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The participation of a delegation from the United Arab Emirates, led by Saeed Al Tayer, Chairman of the Emirates National Oil Company (ENOC) and Chairman of the Board of Directors of Dragon Oil, underscored the high status and strategic importance of this partnership.

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The celebratory atmosphere was enhanced by musical and theatrical performances, a photo exhibition clearly demonstrating the evolution of Dragon Oil's economic and social activities, and a video showcasing the scale and technological advancement of the company's work, all of which served as confirmation of the success of this joint venture.

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A Quarter-Century of Shared Progress

The cooperation between Turkmenistan and Dragon Oil is more than just a commercial contract; it is a shining example of successful energy diplomacy based on the principles of peace and trust. In the year proclaimed the Year of Peace and Trust, this anniversary symbolizes a shared path to progress and prosperity. The strong partnership with Dragon Oil serves as a reliable foundation for implementing Turkmenistan's energy strategy and strengthening its position as a key player in the global market.

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Dragon Oil is also committed to protecting the environment during operations by developing inspection, maintenance, and operational standards to minimize pollution should it occur and reduce the impact on the Caspian Sea ecosystem. The same concept applies to emissions; work is currently underway to reduce emissions to zero by 2027 by eliminating gas flaring during operations, increasing gas injection into oil wells, and selling gas.

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Increasing oil and gas production and refining, as well as exporting the country's energy resources and finished petrochemical products, are among the key challenges facing this important sector of the national economy. Dragon Oil has proven itself to be a reliable and responsible partner in this endeavor.

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From a Single Asset to Billions in Investment

Dragon Oil CEO Abdul Karim Ahmed Al Mazmi shared key findings and the company's plans for the future with ORIENT.

"Dragon Oil began as a single-asset operator, and today we have three assets: production and exploration in Egypt, Iraq, and, of course, Turkmenistan, where we began operations in 2000. This anniversary is a good opportunity to highlight and strengthen our partnership. We have grown, and we are now one of the largest investors in this sector. From 2000 to today, we have invested over $11 billion in Turkmenistan, and we will continue to invest in the future to maintain and strengthen our position," the company's CEO stated.

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Al Mazmi emphasized that over the years, the company has implemented new technologies, significantly improving production performance, and, as a responsible operator, has actively invested in the local community through numerous social projects. He also emphasized that Dragon Oil's anniversary is a "symbol of the shared success" of the collaboration between the governments of the UAE and Turkmenistan.

Speaking about prospects, the executive expressed confidence in long-term cooperation: "We still have 10 years until 2035 (referring to the extension of the existing Production Sharing Agreement from 2025 to May 1, 2035 – editor's note), but we have no intention of stopping. We are seeking new opportunities for expansion, investment, and strengthening our relationship. Our relationship with the government is very good – we trust each other and are building strong relationships that will benefit both our company and the country. We are considering developing additional production layers and are confident that there is investment potential."

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Dragon Oil's anniversary in Ashgabat was not only an opportunity to celebrate outstanding achievements but also a confirmation of the partners' firm commitment to continuing this path of mutual respect, innovation, and shared prosperity for years to come.

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Enejan KEPBANOVA,

Seyli ARYSHOV

Photo: orient.tm

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