Dragon Oil, wholly owned by the Government of Dubai, inaugurated its Ashgabat, Turkmenistan branch on Friday, the largest regional office outside the UAE.
Saeed Mohammed Al Tayer, Chairman of the Board of Directors of Dragon Oil, said, "The opening of the company's regional office in Turkmenistan is the culmination of more than 25 years of presence here. With this, we inaugurate a new chapter of serious and productive cooperation with Turkmenistan. It is also a confirmation of the strategic partnership that unites us with the Turkmen government, as Turkmenistan is one of the oldest countries with vast oil and gas reserves and is an important destination for this industry."
He added, "Dragon Oil targets increasing its total production in the countries where it operates, currently at 180,000 barrels, to 250,000 barrels per day, as the natural growth of production across our various sites by the end of 2025, with Turkmenistan receiving significant attention in this anticipated increase."
The opening was attended by Ali Rashid Al-Jarwan, CEO of Dragon Oil, along with a number of senior officials from various departments of the company and employees of Dragon Oil's Turkmenistan office.
The new regional office in Turkmenistan aims to pave the way for ventures into the blue hydrogen industry by 2029, and increasing its investments by raising oil production capacity in the Turkmen market, which currently stands at about 60,000 barrels.
The new office is located in the centre of the Turkmen capital, spanning an area of 1,600 square metres. It houses more than 60 employees distributed across 15 different departments.
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