Dragon Oil signs an extension of the partnership contract in Turkmenistan for ten more years

Dragon Oil signs an extension of the partnership contract in Turkmenistan for ten more years

- The company aims to invest between 78 Billion dollars during the contract extension period.

- The cumulative production reached 437,000,000 barrels of crude oil during the last 22 years.

- An additional 350 million barrels are expected to be produced until the year 2035, with a daily production rate of 6070 thousand barrels.

Saeid Al-Tayer:

- The extension of the partnership agreement confirms Dragon Oil's commitment towards strengthening its presence in Turkmenistan.

- The company aspires to support the expansion plan during the forthcoming period, while continuing to work to launch more discoveries.

Ali Al Jarwan:

- The agreement will allow the introduction of additional investments and the completion of plans to increase production.

- The integrated teams of Dragon Oil will continue to contribute towards the maximization of hydrocarbon recovery for the benefit of both, Dragon Oil and the Government of Turkmenistan.

Dubai, United Arab Emirates: Dragon Oil, an exploration and production platform totally owned by the Government of Dubai, has renewed the partnership contract in Turkmenistan with the state-owned company, Turkmen Oil, from May 2025, for a period of ten additional years with a total value of $1 billion, $500 million will be paid in cash, while the remaining $500 million will be paid over the