16.05.2019

Dragon Oil – Platinum Sponsor of the X Gas Congress of Turkmenistan

The X Gas Congress, convened by Turkmenistan in Avaza on May 21-22, will bring together energy experts from different countries, heads of leading industry companies, as well as high-ranking representatives of international organizations to discuss topical issues on the development of industry at regional and global levels.

According to the promoters of the Forum, during a two-day event at the Turkmen side of the Caspian cost, the impressive group of speakers will deliver speeches on a wide range of topics and business interests, new ways and formats for mutually beneficial cooperation, taking into account the transition to green economy, the role of gas as the preferred fuel and the integration processes at the world’s gas market.

Among the platinum sponsors of the congress is Dubai-based Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC). In 2018, the company produced more than 4 million tons of oil in Turkmenistan. At the period of January 1 to May 1, 2019 – over 1.2 million tons.

Under the Production Sharing Agreement, Dragon Oil works in Turkmenistan since 1993. Its principal producing asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan that comprises two offshore oil and gas fields, Dzheitune and Dzhygalybeg. As operator, the company was granted a production licence for the exploration and development of oil and gas resources in the Cheleken Contract Area from May 2000. During this period, the company invested more than 6.6 billion US dollars.

During this time, Dragon Oil has drilled new wells, built production and focal offshore fixed platforms, overhauled existing wells, reconstructed and re-equipped all parts of the system.

In 2014, at Dzhygalybeg offshore, the company completed the construction of offshore production fixed platform and started drilling new wells.

In Turkmenistan, Dragon Oil makes a significant contribution to the social and economic development of the country through its primary production activities. The Company is one of the largest employers and employ over 2,200 employees of whom the majority are Turkmen nationals.

From 2005 to the present, the company undertook more than 270 of education, sport and cultural-based projects to make a tangible impact on the lives and living standards of the community,  most of which in the city of Hazar.

The company was one of the sponsors of the World Weightlifting Championships, held in November 2018, assisted in opening a branch of the International Union of Petroleum Engineers in Turkmenistan, funded the sound recording of works by Nury Halmammedov on the anniversary of the composer.

Dragon Oil also holds the Company’s Cups in various sports in the Balkan province and in Ashgabat.

In 2015, for graduates of schools in the city of Hazar, the company has introduced a comprehensive scholarship program in technical fields related to the oil and gas industry. Students are offered an opportunity to study at Tomsk Polytechnic University. Today, under this program, there are 31 students studying in such areas as oil and gas, chemical technology, automation of technological processes and production.

Dragon Oil has a special approach to the implementation of charity projects. The public organization “Ýeňme” (“Overcoming”), the Society of Disabled People of Turkmenistan, the National Paralympic Committee, the Rehabilitation Center, the National Center for Special Olympiad, etc. are among the beneficiaries

By 2025, Dragon Oil hopes to expand production and increase oil production to 100 barrels per day. According to Ali Rashid Al Jarwan, Chief Executive Officer of Dragon Oil, the oil and gas exploration and development company is aimed to increase the total production at all sites three times.