The meeting between Dragon Oil and the Turkmen government focused on the development of the oil and gas sector in Turkmenistan. Saeed Mohammed Al Tayer, chairman of Dragon Oil, along with other members of the board, discussed the successful cooperation between the company and the Turkmen government. They reviewed long-term investment projects in the Cheleken area and the Block 19 project, with a commitment to sustainability goals and reducing gas emissions to zero by 2027. Dragon Oil was invited to participate in the Investment Forum in Ashgabat in September 2024.
The meeting highlighted the investment of more than $10 billion in developing production from the Cheleken concession area, with cumulative production reaching 447 million barrels. Dragon Oil is dedicated to using the best technologies and practices for oil and gas production until 2035. Environmental protection was emphasized during operations, with a focus on minimizing pollution and reducing emissions. Efforts are underway to stop gas flaring, increase gas re-injection into oil wells, and sell gas to the government to reduce emissions to zero by 2027.
The focus of the meeting also included enhancing production methods, exploring new areas like the west of Zhdanov field, Block 19, and offshore concessions like Dongolok site and possibly Block 20. Plans for marketing the company’s crude oil in Turkmenistan were reviewed as part of strategic cooperation with the Turkmen government. This marketing plan aims to enhance the partnership between Dragon Oil and the government, ensuring mutual benefits and sustainability of relations. There is a mutual trust between Dragon Oil and the Turkmen government, both aiming to improve marketing operations and distribution efficiency for the benefit of the local economy.
Dragon Oil’s commitment to environmental protection and sustainability in its operations was reiterated during the meeting, with a focus on reducing emissions and minimizing pollution. The company continues to invest in technology and practices to achieve zero gas emissions by 2027, including stopping gas flaring and increasing gas re-injection into oil wells. Dragon Oil is also exploring new production areas and offshore concessions to enhance production capabilities and maximize output. The meeting highlighted the importance of mutual trust and cooperation between the company and the Turkmen government, leading to improved marketing operations and distribution efficiency for the benefit of both parties. Both entities are committed to enhancing their partnership and exploring new opportunities for mutual growth and development in the oil and gas sector in Turkmenistan.
