Dragon Oil to begin oil exploration within block 19 in December 2024

dragon oil companyfull ownership of the Dubai GovernmentThe exploration process of the first well within Block 19 in Turkmenistan will begin next December, as a culmination of the memorandum of understanding signed with the “Turkmenebit” Turkmenistan state concern, which included the expansion of Dragon oil’s investments in the oil sector aimed at the production of oil and gas from three new oil fields within Block 19 in the Turkmenistan sector of the Caspian Sea.

Furthermore, both parties agreed, during the recent visit led by the company’s delegation to Turkmenistan, to exchange technical information between both parties, including information related to two wells that the company requested and will obtain within the next week, which will help design the exploratory well, reduce costs and other positive aspects of this agreement.

In line with the efforts led by Saeed Mohammed Al Tayer, chairman of the company’s board of directorsthrough World Green Economy Summit, Dragon Oil is working to implement many sustainable development projects such as stopping gas flaring, reducing emissions and a project to plant more than 10,000 trees at the operations site in Hazar city and other areas. Sustainability projects that never stop, due to the Sustainable Development Goals and the results of COP28.

As a culmination of the strong relations uniting the two countries with the support of the wise leaders of the two countries, and as an extension of the recent meeting in Dubai, the company’s technical delegation visited Turkmenistan to implement the terms of the memorandum of agreement signed in Dubai in January, and this step is the embodiment of a series of meetings between the governments of the two countries, the most recent of which is the visit of Gurbanguly Berdimuhamedow, Chairman of the People’s Council of Turkmenistan and national leader of the People Turkmen, and before the meetings held with Serdar Berdimuhamedow, President of Turkmenistan, on the sidelines of the COP 28 Conference of the Parties in Dubai.

Ali Rashid Al Jarwan, CEO of Dragon Oil Company, saying,

“The first phase includes the exploration of carbonaceous materials in the oil and gas well, in Block 19, which has an area of ​​3,800 square kilometers, since preliminary data indicate that it contains a large amount of carbonaceous materials due to its occurrence in a rich geological area. “

Al-Jarwan aggregate,

“After exploration, we will enter the field testing phase and aim to extract 20,000 barrels per day of oil, and if the initial explorations are positive in terms of the abundance of hydrocarbon materials, we will develop an integrated plan to develop the field ”.

“The exploration process will begin next December and will last three months. With the examination, it will increase to four months, after which Dragon Oil will begin developing the field for the benefit of both parties.”

News source: Emirates News Agency