Dragon Oil signed an agreement with Turkmenistan to expand investments
The oil and gas company Dragon Oil on Friday, January 5, signed a memorandum of understanding with the government of Turkmenistan to expand investments. The ceremony took place as part of the visit to the UAE of the Turkmen government delegation led by the Chairman of the Khalk Maslakhaty. This was reported by Erm economic - an Arab economic portal that publishes news about finance, business, markets, technology and energy.
Following the signing, Erm economic interviewed Dragon Oil CEO Ali Rashid Al Jarwan, in which he noted that the Dubai government-owned company's annual investment in the oil sector amounts to around $1.5 billion, with projects spread across three major countries - Turkmenistan, Iraq and Egypt.
In combination with its strategic plans in the area of renewable energy sources, numerous projects and initiatives launched over the past decade, the UAE are moving forward with their investments and expansion in areas of traditional energy to meet the growing demand worldwide after relative recovery of economy.
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