Dragon Oil signs MoU with Turkmenistan State Concern ‘Turkmennebit’ to expand investments

Dubai, Jan. 6 (BNA): Dragon Oil Company, which is fully funded by the Dubai Government, signed a Memorandum of Understanding (MoU) with the Turkmenistan State Concern “Turkmennebit”.

According to Emirates News Agency (WAM), the agreement included expanding Dragon Oil Company’s investments in the promising Turkmen oil and gas sector, which includes three new offshore oil fields within Block 19.

Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan on the basis of a production sharing agreement since 2000. Its primary focus is on the extraction of hydrocarbon resources in the Caspian Sea, in the Cheleken Contract Area.

 

WHQ