Ashgabat: Saeed Mohammed Al Tayer, Chairman of the Emirates National Oil Company (ENOC) Group and Dragon Oil, emphasized the strong and enduring relations between the United Arab Emirates and the Republic of Turkmenistan during his keynote speech at the opening of the 30th International Conference and Expo "Oil and Gas of Turkmenistan" (OGT-2025).
According to Emirates News Agency, Al Tayer highlighted that, in line with the insightful vision of the UAE's wise leadership, the country has become a global beacon of progress and sustainability. He reiterated the UAE's unwavering commitment towards Turkmenistan's innovation, sustainability, and growth. The conference was attended by prominent figures including Batyr Amanov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, and various international energy leaders.
Al Tayer began his speech by noting the milestone nature of the event, celebrating three decades of diplomatic relations between the UAE and Turkmenistan, and 25 years of partnership between Dragon Oil and Turkmenistan. He described this partnership as being characterized by mutual trust, innovation, and a shared ambition for a brighter and more sustainable future.
He further emphasized that sustainability is central to Dragon Oil's strategy, stating that their vision is not just about energy but about responsibility and innovation. The company has achieved significant milestones such as near-zero flaring and a 70% year-on-year reserve replacement ratio through advanced technologies and adherence to high international standards.
Al Tayer detailed Dragon Oil's growth from an initial capital investment of USD 200 million in 2000 to USD 15.2 billion by 2025, with a cumulative production of 726 million barrels. He highlighted the company's strategic expansions to Egypt and Iraq and its commitment to community development and environmental protection in Turkmenistan.
He announced Dragon Oil's target to increase its daily production to 200,000 barrels by 2030 and disclosed plans to extend its working interests in Iraq and Egypt for the next 25 years, with similar intentions for Turkmenistan before the lapse of its PSA in 2035.
Al Tayer concluded by expressing gratitude to the leadership of both nations and Dragon Oil's partners, affirming the enduring relationship as a model of international cooperation and mutual respect.