UAE Dragon Oil to explore and develop Block 19 of Turkmenistan

09 February, 2024

Dragon Oil Company, wholly owned by the Government of Dubai, will begin next December the process of exploring the first well within Block 19 in Turkmenistan, as a culmination of the memorandum of understanding signed with the “Turkmennebit” State Concern of Turkmenistan, which included the expansion of Dragon Oil’s investments in the oil sector aimed at production of oil and gas from three new oil fields within Block 19 at the Turkmenistan Sector of the Caspian Sea.

According to Emirate News Agency (WAM),  Ali Rashid Al Jarwan, CEO of Dragon Oil Company, said, “The first phase includes exploring carbonaceous materials in the oil and gas well, in Block 19, which has an area of 3,800 square kilometres, as preliminary data indicate that it contains a lot of carbonaceous materials due to their occurrence in a rich geological area. ”

Al Jarwan added, “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 regarding the abundance of hydrocarbon materials, we will develop an integrated plan to develop the field,” adding, “The exploration process will begin next December and continue for 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.”

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