Dragon Oil And PETRONAS Sign MoU To Strengthen Cooperation In Oil Exploration And Production

Dragon Oil (International) Ltd, a subsidiary of the Emirates National Oil Company (ENOC), has entered into a Memorandum of Understanding (MoU) with PETRONAS. This agreement, represented by PETRONAS Carigali International Ventures (PCIV), focuses on boosting cooperation in oil and gas exploration and production. It also aims to facilitate the exchange of technical expertise within the upstream sector.

The MoU aligns with Dragon Oil's strategy to expand its exploration and production portfolio globally. This agreement marks the start of a potential strategic partnership, aiming to explore new technical and commercial collaboration areas. Both parties are keen to identify opportunities for future joint projects in the energy sector.

Abdulkarim Al Mazmi, CEO of Dragon Oil, expressed that this partnership underscores their commitment to collaborating with leading international energy firms like PETRONAS. He acknowledged PETRONAS's global expertise and advanced capabilities in exploration and production. "By working together, we aim to create synergies that will support both organisations in developing efficient, high-quality projects and achieving shared objectives," he stated.

As Turkmenistan's main crude oil producer, Dragon Oil has been a strategic partner of the Turkmen Government for over 25 years. The company continues to strengthen its international presence while seeking growth opportunities in key energy markets worldwide.

The MoU was signed by Fareed Al Hashmi, Chief Growth Officer of Dragon Oil, and Azahari Mohd Shuid, Senior General Manager of Strategy and Commercial at PETRONAS. The signing took place in the presence of Abdulkarim Al Mazmi and Mohd Jukris Abdul Wahab, Executive Vice President and CEO Upstream at PETRONAS.

Al Mazmi further added that this MoU aligns with Dragon Oil’s broader vision to expand its global footprint. The company aims to build long-term partnerships that drive sustainable growth through this collaboration.

With inputs from WAM