Dragon Oil is a Gold Partner of the International Investment Forum "Oil and Gas of Turkmenistan" (OGT 2022)
We are proud to announce that Dubai-based Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC) is the Gold Partner of the International Forum for attracting foreign investments to the Oil and Gas sector of Turkmenistan, which will be held in Ashgabat and Dubai on 29-30 March.
Dragon Oil works in Turkmenistan under the Production Sharing Agreement. Its principal producing asset is the Cheleken Contract Area, eastern section of the Caspian Sea, offshore Turkmenistan that comprises two offshore oil and gas fields, Jeitun and Jygalybeg. The company was awarded a production license for the exploration and development of oil and gas resources in the Cheleken Contract Area from May 2000. During this period, Dragon Oil invested more than 8 billion US dollars.
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 the company completed the construction of offshore production fixed platform and started drilling new wells at Jygalybeg offshore.
From 2005 to the present, Dragon Oil also undertook more than 400 of education, sport and cultural-based projects. Dragon Oil was one of the sponsors of the World Weightlifting Championships, held in Turkmen capital in 2018, made an assistance 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 distinguished composer.
What’s more, Dragon Oil regularly organizes the Company’s Cups in various sports in the Balkan region and in Ashgabat.
In 2015, the company introduced a comprehensive scholarship program in technical fields for graduates of schools in the city of Hazar, offering an opportunity to study at Tomsk Polytechnic University.
It is noteworthy that the vast majority of the company's employees are citizens of Turkmenistan.
Dragon Oil has a special approach to the implementation of charity projects. Among the beneficiaries - public organization “Ýeňme” (“Overcoming”), the Society of Disabled People of Turkmenistan, the National Paralympic Committee, the Rehabilitation Center, the National Center for Special Olympiad, etc.
Dragon Oil developed a strategy to increase by 2026 production from the current 160,000 to 300,000 barrels per day. As Ali Rashid Al Jarwan, CEO of Dragon Oil stated, the company is determined to achieve sustainable growth goals by opening up new opportunities around the world, including Turkmenistan, Iraq and Egypt.
Recently Dragon Oil has made its first oil discovery in the Gulf of Suez. According to the Egyptian Ministry of Petroleum and Natural Resources the discovery could contain about 100 million barrels and considered one of the largest in the Gulf of Suez in the last 20 years.
