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Dragon Oil signs MoU with Turkmenistan Oil to expand investments

1 min

Dragon Oil Company, wholly owned by the Government of Dubai, signed a Memorandum of Understanding (MoU) with Turkmenbet Company (Turkmenistan Oil).

Gurbanguly Berdimuhamedow, Chairman of the People's Council of Turkmenistan and Saeed Mohammed Al Tayer, Chairman of the Board of Directors of Dragon Oil © WAM

Dragon Oil Company, wholly owned by the Government of Dubai, signed a Memorandum of Understanding (MoU) with Turkmenbet Company (Turkmenistan Oil).

The agreement included expanding Dragon Oil Company’s investments in the promising Turkmen oil and gas sector, which includes three new oil fields within Block 19.

Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan on the basis of a production sharing agreement since 2000. Its primary focus is on the extraction of hydrocarbon resources in the Caspian Sea, in the Chilikin Contractual Area.

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