ASHGABAT, Turkmenistan, October 11. Dragon Oil company intends to increase crude oil production by almost 120,000 barrels per day by expanding the scale of its operations in Turkmenistan and Iraq, Trend reports.
Currently, Dragon Oil, wholly owned by the Emirates National Oil Company (ENOC), produces 180,000 barrels per day at its facilities abroad and plans to increase production to 300,000 by 2026.
Currently, the company has an ambitious expansion plan outside the UAE, and the focus is on expanding operations in Iraq and Turkmenistan, which are given the priority.
Dragon Oil has been operating in Turkmenistan since 2000.
The company's main activity is the production of hydrocarbons on the Cheleken contractual territory in the Caspian Sea through the development of the Jeytun and Jigalybeg oil fields, in which it has invested more than $8 billion.