Saeed Mohammed Al Tayer, chairman of Dragon Oil's board of directors, engaged in discussions about the advancement of Turkmenistan's oil and gas industry. Present at the meeting were key figures from Dragon Oil, such as Hussain Lootah, Board Secretary Qusai Al-Shared, Ali Rashid Al-Jarwan, CEO, and several officials from different departments. The conversation centered on sustaining the fruitful partnership between Dragon Oil and the Turkmen government. Al Tayer highlighted ongoing investment projects in the Cheleken area and Block 19, emphasizing the company's dedication to environmental sustainability and achieving zero gas emissions by 2027.
Amanov expressed appreciation for the collaborative efforts and extended an invitation to Dragon Oil to join the Investment Forum in Ashgabat, scheduled for September 2024. The meeting also covered plans to invest over $10 billion to enhance production from the Cheleken concession area, with total production expected to hit 447 million barrels. Dragon Oil is committed to employing advanced technologies and best practices in oil and gas production to serve both the Turkmen government and the company until 2035.
During the discussions, Dragon Oil reiterated its commitment to environmental stewardship by implementing rigorous inspection, maintenance, and operational standards to minimize pollution and protect the Caspian Sea's natural environment. Efforts are in place to achieve zero emissions by 2027 through measures like eliminating gas flaring, increasing gas reinjection into wells, and selling gas to the government. The meeting also explored ways to boost production and expand into new areas, such as the western part of the Zhdanov field and Block 19, aiming to add new production capabilities.
Additionally, the prospect of acquiring more offshore concessions, like the Dongolok site and possibly Block 20, was discussed. Both parties reviewed new strategies for marketing the company's crude oil within Turkmenistan, viewing this as a strategic move to align with the goals of their strategic cooperation. This marketing initiative underscores the shared commitment to strengthening the partnership and exploring new avenues for mutual benefit. The collaboration reflects the strong trust between Dragon Oil and the Turkmen government, aiming to optimize marketing operations and improve distribution efficiency to support the local economy and foster sustainable relations.
