Dragon Oil Opens New Office in Ashgabat

BUSINESS TURKMENISTAN
Dragon Oil Opens New Office in Ashgabat
Opening ceremony of the new Dragon Oil office in Ashgabat, December 25, 2023, Turkmenistan. (Photo: UAE Embassy in Turkmenistan)

Oil company Dragon Oil has opened its new office in the capital of Turkmenistan, Ashgabat, the Embassy of the United Arab Emirates in Turkmenistan announced on Monday.

Chairman of Türkmennnebit (Turkmen Oil) State Concern Guvanch Agajanov and Executive Director of Dragon Oil Company Ali Rashid Al-Jarwan welcomed the attendees and held a ribbon-cutting ceremony to open the new office.

Dragon Oil has been operating in Turkmenistan since 2000 under a Production Sharing Agreement. Its primary focus lies in hydrocarbon production within the Cheleken contractual territory in the Caspian Sea, specifically through developing the Jeytun and Jygalybeg oil fields. The total investment of Dragon Oil in this project exceeds $8 billion.

Türkmennebit State Concern and Dragon Oil (Turkmenistan) Ltd. signed a contract to extend the Production Sharing Agreement until May 1, 2035.

Throughout its tenure in Turkmenistan, Dragon Oil has constructed offshore fixed platforms for production and distribution, conducted maintenance on existing wells, and reconstructed and modernised all components within the oil field development system.

 

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2022