ASHGABAT, Turkmenistan, January 8. Dragon Oil, owned by the Emirates National Oil Company (ENOC) will start developing three promising fields located in Block 19 in the Turkmen sector of the Caspian Sea within the framework of the memorandum signed earlier, Trend reports.
Earlier, the company's specialists conducted seismic exploration in these territories at a cost of $35 million.
At the moment, the company plans to expand investments in these three oil fields in order to increase production in the near future.
Furthermore, the company seeks to strengthen its presence in Turkmenistan through new investments that will have a positive impact on both sides.
The increase in state revenues from energy extraction will have a positive impact on the creation of new jobs, since the company has more than 2,000 employees in Turkmenistan alone.
Recently the Turkmennebit State Concern of Turkmenistan and the Dragon Oil company signed a memorandum of understanding according to which these fields will be developed.
This document was signed during the meeting of Chairman of the People's Council of Turkmenistan Gurbanguly Berdimuhamedov with Chairman of the Board of Directors of UAE's Dragon Oil company Saeed Al Tayer in Abu Dhabi.
