Dragon oil aims to double production to 300,000 b / d by 2026 – CEO

Dubai, September 19, 2021 (WAM) – Dragon Oil is seeing new developments in Turkmenistan, Iraq and Egypt after surviving the 2020 challenges, said Deldon Oil CEO Ali Rashid al-Jarwan, who is owned by the Dubai government. , Development and production company.

With Dragon Oil, we are committed to achieving our sustainable development goals by opening new opportunities around the world, including Turkmenistan, Iraq and Egypt. The board is expected to increase its production from 160,000 barrels per day to 300,000 barrels by 2026. ”

The 2021 edition of the Annual Technical Conference and Exhibition of Petroleum Engineers (ACC) will be launched in Dubai on Tuesday, September 21, 2021, according to a statement issued by Al Jazeera on Sunday. Business Center.

The 97th edition of the ACC will be co-sponsored by the Crown Prince of Dubai and the Chairman of the Executive Council of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

Now available in person and online, the SPE Annual Meeting will continue to provide groundbreaking papers and specialized technical arrangements designed to accelerate the implementation of innovations in each technical discipline.

The event will be held from September 21-23rd with the participation of international speakers on the strategies needed to maintain business continuity and the principles of competitiveness. Industrial influencers discuss issues such as net zero transition, post-epidemic business models and strategies, accelerating access to new technology applications, financial support for future projects, energy mixing, and more.

The 2021 edition of the SPE Annual Technical Conference and Exhibition is proud to be back in Dubai for the second time. He said the event will take over the expertise of international oil and gas experts and receive the Guba conference excellence. In a press conference attended by several Dragon Oil executives, Jarwan spoke with media representatives.

Al-Jarwan added that the technical program showcases the largest peer-to-peer papers and sessions in the industry covering current applications and new technologies at all levels of E&P.

“The conference provides an unparalleled opportunity to learn and collaborate in workshops, forums and training courses, while at the same time showcasing the latest technologies around the world.

The three-day technical program will include a plenary session, five syndic sessions, five regional conferences and more than 60 technical conferences featuring 400 technical papers, visual and knowledge exchange, and carefully selected papers covering over 2,000 topics. Applicable to E&P. Meanwhile, more than 60 companies from 12 countries will participate in an extensive exhibition to provide visitors with the latest and greatest technologies in the E&P industry with a wide range of current and future technologies.

“The focus will be on the future of research, operational efficiency, reliance on oil and gas, and the understanding and tools of leaders and engineers,” he said.

ATCE will provide an opportunity to enhance strategic collaboration between participating companies and individuals and explore the latest developments in the field.

Al-Jarwan said that despite the unprecedented challenges posed by all companies around the world due to the 2020 CV-19 epidemic, Dragon Oil proved to be a positive performer by 2020 and will continue to grow annually in 2021.

At the time of the outbreak, Dragon Oil was supposed to reduce costs and operating costs by 35 percent, but there was no dismissal. We were pioneers in embracing digital solutions and new energy innovations, so we were able to maintain our financial capacity. Moving forward with our overseas projects, ”he said.

Al-Jarwan added: “With Dragon Oil, we are committed to achieving our sustainable development goals by opening new opportunities around the world, including in Turkmenistan, Iraq and Egypt. The Board has put in place a strategy to increase production to 160,000 barrels. By 2026, up to 300,000 barrels per day.

In addition, with the recent rise in international crude oil prices to 75 75, our revenues are expected to increase this year.

He added that Dragon Oil recently renewed its total value in Turkmenistan for another 10 years at a cost of $ 400 million. The contract expires in 2025.


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