The management of the Turkmennebit State Concern (Turkmen oil) held a meeting with a delegation of Dragon Oil (United Arab Emirates) headed by Chief Executive Officer Ali Rashid Al-Jarwan, the International Information Center of Turkmenistan reports.
In January of this year, Dragon Oil and Turkmennebit signed a Memorandum of Understanding providing for the expansion of Dragon Oil’s investments in the promising oil and gas sector of Turkmenistan. The company’s asset portfolio has been added with three more new oil fields located in Block 19 in the Turkmen sector of the Caspian Sea.
During the meeting, the outcomes of the 3D seismic survey conducted at Block 19 were discussed. According to Al-Jarwan, the company is now moving from 3D seismic survey to geological exploration. In addition, drilling operations will start this year.
In this regard, Dragon Oil was briefed on all the technical specifications presented by Turkmennebit.
Al-Jarwan expressed hope that a new chapter of exploration and production at Block 19 awaits both sides.
Moreover, the sides stressed that Turkmenistan is currently actively involved in the development of the global energy market.
They also discussed the possibilities of building up long-term successful cooperation, taking into account the accumulated solid experience of joint work and ambitious plans of Turkmenistan for the further development of the fuel and energy complex.
Aligned with Turkmenistan’s plans for further fuel and energy complex development, the meeting delved into potential joint projects.
Recognizing the rising global energy demand, both parties expressed commitment to strengthening their partnership. The Turkmennebit State Concern indicated its openness to considering proposals from Dragon Oil for further expanding their collaboration.
Dragon Oil established its largest overseas regional office in Ashgabat in December 2023, signifying a strong commitment to the region.
Earlier, Ali Rashid Al-Jarwan said that in the next few years Dragon Oil plans to completely stop flaring associated petroleum gas in the fields of its foreign assets in Turkmenistan, Iraq and Egypt. ///nCa, 6 February 2024