Dragon Oil Launches Largest Regional Office In Turkmenistan To Bolster Strategic Ties

Saeed Mohammed Al Tayer, Chairman of Dragon Oil's Board of Directors, recently inaugurated the company's largest regional office outside the UAE in Ashgabat, Turkmenistan. This event marked a significant milestone for Dragon Oil, which is wholly owned by the Government of Dubai.

Ali Rashid Al-Jarwan, CEO of Dragon Oil, attended the inauguration along with senior officials and employees from various departments. The new office spans 1,600 square metres and is located in the centre of Ashgabat. It accommodates over 60 employees across 15 different departments.

The opening ceremony was also attended by a high-level delegation from Dragon Oil's board members. This move underscores the company's commitment to expanding its investments in Turkmenistan's promising oil and gas sector. The new office represents a crucial step towards achieving Dragon Oil's strategic goals.

Al Tayer stated, "The opening of the company's regional office in Turkmenistan is the culmination of more than 25 years of presence here. With this, we inaugurate a new chapter of serious and productive cooperation with Turkmenistan. It is also a confirmation of the strategic partnership that unites us with the Turkmen government, as Turkmenistan is one of the oldest countries with vast oil and gas reserves and is an important destination for this industry."

Dragon Oil aims to increase its total production from 180,000 barrels to 250,000 barrels per day by the end of 2025. This growth will be driven by natural production increases across various sites, with significant attention given to Turkmenistan.

The company plans to venture into the blue hydrogen industry by 2029 and boost its investments in renewable energies. Currently, Dragon Oil's production capacity in Turkmenistan stands at about 60,000 barrels per day.

The new regional office signifies Dragon Oil's dedication to enhancing its operational capabilities and investment projects in Turkmenistan. This expansion aligns with their broader strategy to increase oil production capacity and explore new energy sectors.

This development highlights Dragon Oil's long-term vision and commitment to strengthening its presence in key markets like Turkmenistan. The company continues to build on its strategic partnerships and invest in sustainable energy solutions for future growth.

With inputs from WAM