Dragon Oil And Turkmenistan Strengthen Partnership At OGT-2025 Conference Focused On Sustainability

Saeed Mohammed Al Tayer, Chairman of ENOC Group and Dragon Oil, highlighted the enduring ties between the UAE and Turkmenistan at the 30th International Conference and Expo "Oil and Gas of Turkmenistan" (OGT-2025). He emphasised the UAE's commitment to Turkmenistan's innovation, sustainability, and growth. The event was attended by key figures including Batyr Amanov from Turkmenistan and Orkhan Zeynalov from Azerbaijan.

Al Tayer noted that the conference marks a significant milestone in UAE-Turkmenistan relations, celebrating 30 years of diplomatic ties and 25 years of partnership between Dragon Oil and Turkmenistan. He stated: "It gives me great pleasure to address you at the 30th International Conference and Expo 'Oil and Gas of Turkmenistan' (OGT-2025). This milestone gathering not only celebrates three decades of diplomatic relations between the United Arab Emirates and the Republic of Turkmenistan, but also honours our shared values, enduring friendship and visionary collaboration."

Al Tayer stressed that sustainability is central to Dragon Oil's strategy. He said: "Our vision at Dragon Oil is not just about energy; it is about responsibility, innovation and a steadfast commitment to future generations. Sustainability is not a checkbox for us – it is the heartbeat of our mission." The company has achieved near-zero flaring and set ambitious targets like a 70% year-on-year reserve replacement ratio.

Dragon Oil has invested over $11 billion in Turkmenistan since signing the Cheleken Production Sharing Agreement in 1999. This investment increased production from three million to 468 million barrels over 25 years. The company has expanded its presence beyond Turkmenistan to Egypt and Iraq, acquiring BP's interests in the Gulf of Suez since 2012.

Al Tayer explained that artificial intelligence plays a crucial role in Dragon Oil's operations. AI aids in advanced reservoir modelling, predictive maintenance, and rapid response through drone support. These technologies optimise production, enhance safety, and ensure efficient asset management. From an initial investment of USD 200 million in 2000, Dragon Oil's capital has grown to USD 15.2 billion by 2025.

The company's global workforce has expanded to 4,760 employees, with 2,200 based in Turkmenistan—93% of whom are Turkmen nationals. This growth reflects Dragon Oil's commitment to local employment while expanding its international production footprint.

Community Development Initiatives

Dragon Oil extends its role beyond energy production by supporting community development, environmental protection, and human capital enhancement. Al Tayer stated: "At Dragon Oil, we believe our responsibility and partnership go beyond energy production; they are about driving sustainable growth and shared prosperity in Turkmenistan." The company invests in cleaner gas power projects, solar energy pilots, healthcare improvements, education support, sports promotion, and infrastructure enhancement.

To date, Dragon Oil has delivered approximately 200 social projects with investments exceeding $97 million. Plans include more than $140 million for initiatives aimed at strengthening communities and protecting the environment.

Future Growth Plans

The company aims to increase daily production to 200,000 barrels by 2030. This includes an additional 50,000 barrels per day from new opportunities while exploring new reservoirs with partners in Turkmenistan for sustainable operations in the Caspian Sea.

Dragon Oil has extended its interests in Iraq and Egypt for another 25 years. It plans similar extensions with Turkmenistan before its PSA expires in 2035.

Al Tayer concluded: "This enduring relationship is a testament to the strong ties between the UAE and Turkmenistan – a model of international co-operation and mutual respect." He expressed gratitude to both nations' leaderships for their dedication to this journey of excellence.

With inputs from WAM