Dragon Oil - Bronze Sponsor of the International Investment Forum of Turkmenistan
17:02 23.04.2021 23130
Exactly twenty days are left before the opening of the International Forum on Attracting Investment in the Oil and Gas Sector of Turkmenistan, dedicated to the 30th anniversary of our country's Independence. This business meeting, which will be held in Ashgabat on May 12-13, will bring together the heads of leading national and international oil and gas companies, international financial institutions, as well as experts who determine the future of the oil and gas industry not only in Turkmenistan, but also in the entire region.
According to the organizers of the Forum, an impressive group of speakers will cover a wide range of topics and business interests, global trends in the development of the fuel and energy sector, priorities of Turkmenistan's energy diplomacy, progress in the implementation of the TAPI gas pipeline project, issues of attracting investment in the Turkmen sector of the Caspian Sea, prospects for gas chemical projects, and much more.
Among the bronze sponsors of the upcoming event is Dubai-based Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC). Dragon Oil has been operating in Turkmenistan on the basis of a Production Sharing Agreement (PSA) since 1993. The main activity of the company is focused on the development of the Jeytun and Dzhigalybeg oil fields (Cheleken contractual territory of the Turkmen shelf of the Caspian Sea). Dragon Oil has been successfully operating here since 2000. The company's investments amount to more than 7.5 billion US dollars.
Within the framework of the project, Dragon Oil drilled new wells, built operational and nodal offshore stationary platforms, carried out major repairs of existing wells, reconstruction and re-equipment of all parts of the system.
In 2014, the company completed the construction of an operational offshore stationary platform at the Dzhigalybeg field and started drilling new wells.
To date, the company has more than 2 thousand employees, the vast majority of whom are citizens of Turkmenistan.
By 2025, Dragon Oil plans to expand production and increase oil production to 100 thousand barrels per day. According to the General Director of the Arab oil and gas company, Ali Rashid Al-Jarwan, the company for the exploration and development of oil and gas fields aims to increase the total production at all sites by three times.
Since 2005, about 400 social projects have been implemented. They cover both educational and sports, as well as cultural spheres.
In 2015, the company initiated a Scholarship program for graduates of Khazar city schools, which provides an opportunity to get an education in various oil and gas fields at Tomsk Polytechnic University. Today, within the framework of this program, 44 students are studying there in such areas as oil and gas, chemical technology, automation of technological processes and production.
Turkmenistan continues to provide electricity to the regions of Afghanistan, - MFA
Turkmenistan continues to supply electricity to neighboring Afghanistan in accordance with existing contracts, the website of the Ministry of Foreign Affairs of Turkmenistan reports.
Turkmenistan will come up with initiatives in the field of energy at the UN General Assembly
At the 77th session of the United Nations General Assembly, which starts in New York in a few weeks, Turkmenistan will propose a number of initiatives, including in the energy sector. This is reported by the Ministry of Foreign Affairs of Turkmenistan.
Uninterrupted operation of the checkpoint is ensured on the Turkmen-Afghan border, - MFA
Turkmenistan continues to ensure the uninterrupted operation of checkpoints on the Turkmen-Afghan border, the website of the Ministry of Foreign Affairs of Turkmenistan reports.
Transactions on fuel and energy products were the leaders in exchange trading
At the auctions of the State Commodity and Raw Materials Exchange of Turkmenistan, 37 transactions were registered last week.
Trade turnover between Turkmenistan and China in the first half of the year increased by 12.3%
In the first six months of 2023, the trade turnover between Turkmenistan and China increased by 12.3% compared to the same period last year, amounting to about $5.55 billion, according to the General Administration of Customs of China.