Dragon Oil to Commence Drilling in Turkmen Caspian Sector

Dragon Oil to Commence Drilling in Turkmen Caspian Sector
Discussion between top-management of Türkmennebit State Concern and Dragon Oil, February 5, 2024, Ashgabat, Turkmenistan.

United Arab Emirates' Dragon Oil plans to start drilling wells in Block 19 in the Turkmen sector of the Caspian Sea in 2024, announced the company's CEO, Ali Rashid Al-Jarwan, in an interview with the International Information Center of Turkmenistan on Monday.

Al-Jarwan highlighted the completion of successful seismic exploration at this field by their specialists, who are now advancing to geological exploration work. The CEO also mentioned the study of the technical characteristics of the Türkmennebit (Turkmen Oil) State Concern.

Expressing hope for a new chapter of exploration and production in Block 19, Al-Jarwan emphasized that Dragon Oil and Türkmennebit have productive plans for cooperation.

Al-Jarwan visited Ashgabat to meet with the management of the Türkmennebit. During the meeting, they discussed possibilities for expanding their long-term successful cooperation, considering the accumulated experience of joint work and Turkmenistan's ambitious plans for the further development of the fuel and energy complex. The meeting acknowledged Turkmenistan's active role in the global energy market development.

In January of this year, Türkmennebit State Concern and Dragon Oil (Turkmenistan) Ltd signed a Memorandum of Understanding, paving the way for the Dubai oil company to begin developing three promising fields near Cheleken.

Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan since 2000, operating under a Production Sharing Agreement. The company primarily focuses on hydrocarbon resource production in the Caspian Sea, particularly in the Cheleken contract area.