Dragon Oil, a renowned global company involved in the exploration, development, and production of oil and gas, has been announced as the diamond partner for the annual International Conference and Exhibition "Oil and Gas of Turkmenistan-2023" (OGT-2023), according to the organizers of the event.
The Emirati company actively participates in and sponsors various media events related to oil and gas held in Turkmenistan. Dragon Oil places great emphasis on adhering to high environmental standards to establish and ensure sustainable business practices.
The partnership between Dragon Oil and Turkmenistan serves as a prime example of mutually beneficial, long-term cooperation. Since 2000, the Emirati company has been operating in Turkmenistan under a Production Sharing Agreement. Its primary focus lies in hydrocarbon production within the "Cheleken" contractual territory in the Caspian Sea, specifically through the development of the Jeytun and Jygalybeg oil fields. Dragon Oil's total investment in this project exceeds $8 billion.
Throughout its tenure in Turkmenistan, Dragon Oil has constructed offshore fixed platforms for production and distribution, conducted maintenance on existing wells, and undertaken the reconstruction and modernization of all components within the oil field development system.
In July last year, Dragon Oil has renewed the PSA in Turkmenistan with the Türkmennebit for a period of ten additional years until May 1, 2035.
The OGT-2023 will be held on October 25-27 this year in Ashgabat.
The Organizing Committee anticipates the participation of numerous heads of leading international energy companies, representatives of international organizations, and prominent global financial institutions who will share their expertise and engage in discussions on regional and global trends impacting Turkmenistan's oil and gas industry. Additionally, meetings with senior management from Turkmenistan's oil and gas, banking, chemical, and energy sectors will be arranged during the conference to explore further investment prospects.