On December 25, Monday, a new office of the UAE major oil company Dragon Oil was inaugurated in the capital of Turkmenistan. This was reported by the Neutral Turkmenistan daily newspaper.
Chairman of the State Concern "Turkmenneft" Guvanch Agajanov together with Executive Director of the Emirati company Ali Rashid Al-Jarwan cut the ribbon, inaugurating the company's office in Turkmenistan.
Dragon Oil has been operating in Turkmenistan since 2000, producing hydrocarbons from the Cheleken contract area in the Caspian Sea. Dragon Oil's investment in the development of the Dzheitun and Jigalybeg oil deposits exceeds $8 billion.
The Emirates Company operates in Turkmenistan on the basis of the Production Sharing Agreement with Turkmenneft. The agreement is extended until May 1, 2035.
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