Dragon Oil Increases Investments In Egypt's Energy Sector With Focus On AI And Sustainability

Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, highlighted the country's dedication to enhancing collaborations with UAE firms in the energy sector. He commended Dragon Oil for its investments and contribution to oil and gas production. His comments followed a meeting with Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy and Board Member of Dragon Oil, after the Egypt Energy Show (EGYPS 2025).

Al Muhairbi reiterated Dragon Oil's commitment to increasing its investments in Egypt. Over the past five years, the company has invested more than $500 million and plans to boost production in the Gulf of Suez region. This investment underscores their long-term strategy in Egypt's energy landscape.

Ali Rashid Al Jarwan, CEO of Dragon Oil, emphasised the significance of integrating Artificial Intelligence (AI) solutions to improve operational efficiency. He also stressed the importance of developing human resources to ensure sustainable growth within the company. These efforts are part of a broader strategy to enhance productivity and innovation.

During discussions with Egyptian President Abdel Fattah El-Sisi, Al Jarwan outlined Dragon Oil’s achievements over the last five years. He highlighted that Dragon Oil has evolved into a technology- and innovation-driven entity within the oil sector. This transformation has been pivotal in maintaining competitive advantage.

The company successfully drilled 13 wells and conducted rapid intervention operations on 350 wells to sustain production levels. Additionally, an agreement was signed with Egypt’s Minister of Petroleum during ADIPEC 2024 last year. This agreement focused on research and development for the "Al Wasl" field, also known as "North Safa," which added 8,000 barrels per day to production.

Al Jarwan further mentioned that Dragon Oil's current production stands at 60,000 barrels per day. The company has implemented AI technologies in two fields and is working towards digitising all operational processes. These advancements are crucial for maintaining efficiency and competitiveness in a rapidly evolving industry.

Commitment to Expansion

Dragon Oil remains dedicated to its expansion strategy aimed at supporting Egypt’s energy sector while enhancing production sustainability. The company's focus on technological integration and resource development reflects its commitment to long-term growth and collaboration within the region.

With inputs from WAM