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Dragon Oil has invested about $10 billion in developing oil and gas fields in Turkmenistan and produced 447 million barrels of hydrocarbons over a 25-year period of cooperation, Chief Executive Officer Ali Al Jarwan said in an interview with the Neutral Turkmenistan newspaper.
Dragon Oil has been operating in Turkmenistan since 2000 under a Production Sharing Agreement concluded with the country's government. The company develops and produces oil and gas in the Cheleken contract area, which includes two offshore fields – Jeitun and Jigalybeg.
According to Al Jarwan, the company’s entry into the Turkmen oil and gas sector has contributed to a significant influx of investment and the introduction of modern technologies. The executive director also expressed gratitude to President Serdar Berdimuhamedov and Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov for creating favorable conditions for long-term cooperation.
The head of Dragon Oil noted that Turkmenistan, which has huge reserves of hydrocarbon resources, has significant potential for expanding mutually beneficial cooperation in the oil and gas sector on a long-term basis.