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Events dedicated to the extension of the Production Sharing Agreement until May 1, 2035 between the State Concern “Turkmenneft” and Dragon Oil (Turkmenistan) Ltd were held at the Dubai Grand Hyatt Dubai hotel, reported the press service of the oil company.
The events were attended by the Director General of Dragon Oil Ali Al-Javran, the Ambassador of Turkmenistan to the UAE, representatives of “Turkmenneft”, the management and board members of the National Oil Company of the Emirates (ENOC).
In addition to live music, the program also included Turkmen and Emirati folklore dances.
It is worth noting that the new contract was signed on June 30, according to this agreement, the average daily hydrocarbon production is planned to be increased from 7 to 80 thousand barrels per day.
Turkmenistan's previous contract with Dragon Oil was calculated until May 1, 2025.