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Dubai's Dragon Oil Extends Turkmenistan Contract

OIL

Dragon Oil, an exploration and production platform totally owned by the Government of Dubai, has renewed the partnership contract in Turkmenistan with the state-owned company, Turkmen Oil, from May 2025, for a period of ten additional years with a total value of $1 billion, $500 million will be paid in cash, while the remaining $500 million will be paid over the next 13 years based on a company statement.

  • The company aims to invest between 7-8 Billion dollars during the contract extension period.
  • An additional 350 million barrels are expected to be produced until the year 2035, with a daily production rate of 60-70 thousand barrels.
Energy BulletsCommodities
Energy BulletsCommodities

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