Dragon Oil has developed a strategy to increase production from the current 160,000 to 300,000 barrels per day by 2026.
"We are determined to achieve our sustainable growth goals by opening up new opportunities around the world, including Turkmenistan, Iraq and Egypt," said Ali Rashid Al Jarwan, chief executive officer of Dragon Oil, an oil and gas exploration, development and production company (owned by the government of Dubai).
Al Jarwan confirmed that Dragon Oil has achieved positive results in 2020 and continues to maintain stable growth in 2021, despite the unprecedented challenges facing the entire world due to the Covid-19 pandemic, TradeArabia reports.
“When the pandemic broke, Dragon Oil had to cut operating expenses by 35%, but there were no layoffs. We applied digital solutions and energy innovations, so we managed to maintain financial stability while continuing to implement foreign projects, '' he explained.
The 97th SPE Conference will be held under the patronage of Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.
The SPE Annual Meeting will run through September 23rd. Industry influencers will discuss topics such as going zero, post-pandemic business models and strategies, accelerating the adoption of new technology applications, financing future projects, collaboration, and more.