Dragon Oil has invested approximately $10 billion into the development of Turkmenistan’s oil and gas fields over 25 years of cooperation, the company’s CEO Ali Rashid Al-Jarwan said, Trend reports.
“The company’s presence in Turkmenistan has significantly contributed to a surge in investments and the implementation of modern technologies,” Ali Rashid Al-Jarwan noted.
He also emphasized that Turkmenistan, with its vast hydrocarbon reserves, holds great potential for expanding mutually beneficial cooperation in the oil and gas sector on a long-term basis. Over 25 years the company has extracted 447 million barrels of hydrocarbons.
Dragon Oil has been operating in Turkmenistan since 2000 under a Production Sharing Agreement (PSA) with the government. The company is involved in the exploration and production of oil and gas in the Cheleken contract area, which includes two offshore fields — Jeytun and Jigalybeg.
Meanwhile, Dragon Oil and Turkmenistan have previously extended their oil production contract until 2035. In December 2023, Dragon Oil reopened its new office in Ashgabat.
