ASHGABAT, Turkmenistan, December 26. Dragon Oil, owned by the Emirates National Oil Company (ENOC), has opened its new office in Ashgabat city, the capital of Turkmenistan, Trend reports.
According to the UAE Embassy in Turkmenistan, Guvanch Agadzhanov, Chairman of Turkmenistan's Turkmennebit State Concern, and Ali Rashid Al-Jarwan, Chief Executive Officer of Dragon Oil, welcomed those present and held a solemn ceremony of launching a new office, cutting the ribbon.
Dragon Oil has been operating in Turkmenistan under a Production Sharing Agreement since 2000.
Its primary business is the extraction of hydrocarbons in the Cheleken contractual domain of the Caspian Sea, which is accomplished through the development of the Jeytun and Dzhigalybeg oil fields.
Furthermore, Dragon Oil has invested more than $8 billion in this project.
Meanwhile, last year, the Turkmennebit State Concern and Dragon Oil company signed a contract to extend the Production Sharing Agreement until May 1, 2035.
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