Dragon Oil to Invest $8 Billion in Turkmenistan's Energy Sector

BUSINESS TURKMENISTAN
Dragon Oil to Invest $8 Billion in Turkmenistan's Energy Sector
International Forum on Attracting Foreign Investment in Turkmenistan's Energy Sector, April 26, 2023, Dubai, UAE (Photo: orient.tm)

Ahmed Bin Saeed Al Maktoum, Vice Chairman of Dubai Executive Council, announced at the plenary session of the Oil and Gas Investment Forum of Turkmenistan that Dragon Oil is set to invest at least $8 billion in Turkmenistan's energy sector over the next 15 years.

"In over 23 years of working together, Dragon Oil has invested over $8 billion in Turkmenistan's oil field development project, and is ready to invest at least the same amount over the next 15 years," Ahmed Bin Saeed Al Maktoum noted.

Moreover, Al Maktoum proposed to make the Turkmen market more open to foreign investors and to transform the energy sector by taking advantage of the UAE's extensive knowledge and experience in solar, nuclear, hydrogen, and other alternative energy models.

The international forum on attracting foreign investment in the energy sector of Turkmenistan commenced on Thursday in Dubai at the Hyatt Regency Hotel.

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2022