Dubai-owned Dragon Oil, led by Chairman H.E. Saeed Mohammed Al Tayer, has reaffirmed its commitment to the development of Turkmenistan’s oil and gas sector during a high-level meeting in Ashgabat.
The delegation, which included key members of Dragon Oil’s Board of Directors, met with Turkmen officials, including Deputy Prime Minister H.E. Batyr Amanov and Turkmen Oil Chairman Guvanch Agajanov, to discuss ongoing and future projects.
H.E. Al Tayer expressed his gratitude to Turkmen President Serdar Berdimuhamedov for the warm reception and support, emphasizing Dragon Oil's long-term investments in the Cheleken area and the new Block 19 project. He highlighted the company’s dedication to sustainability, aiming to achieve zero gas emissions by 2027 through advanced technologies and best practices in oil and gas production.
During the meeting, both parties explored the continuation of their successful cooperation, with discussions on investing over $10 billion to enhance production in the Cheleken concession, which has already yielded 447 million barrels. The potential for further offshore exploration, including the Dongolok site and Block 20, was also addressed.
Dragon Oil’s environmental initiatives were underscored, particularly its strategies to minimize pollution and eliminate gas flaring. The company also unveiled a new marketing plan for its crude oil in Turkmenistan, reflecting a strategic alignment with the Turkmen government to bolster the local economy and strengthen bilateral ties.
As a sign of continued collaboration, H.E. Amanov invited Dragon Oil to participate in the upcoming Investment Forum in Ashgabat, scheduled for September 2024, marking another step in their enduring partnership.
News Source: Dubai Media Office
