AKIPRESS.COM - Dubai-based Dragon Oil Company opened its largest regional office in Ashgabat, the capital of Turkmenistan, to enhance oil production capacity in the Turkmen market through increased investment, Emirates News Agency said in a report.

The new office represents an important step for the company, wholly owned by the Dubai Government, to achieve the established strategic goals, such as entering the blue hydrogen industry by 2029, and bolstering its investments to expand the oil production capacity in the Turkmen market, which currently amounts to about 60,000 barrels per day, or through projects related to renewable energies.

The office was opened in the presence of a high official delegation from the Turkmenistan Government, led by Guvanch Agajanov, Chairman of the SC Turkmennebit. The opening ceremony was attended by Rashid Al Jarwan, CEO of Dragon Oil, Maksat Pirliyev, General Director of Napeco, Deputy Ambassador of the UAE to Turkmenistan, Sulaiman Al Zahmi, high officials representing Petronas Turkmenistan, Mitro International and other companies.

Dragon Oil aims to raise its production, which currently stands at 180,000 barrels to 250,000 barrels per day with the natural growth of site production at the end of 2025, with Turkmenistan paying great attention to this expected increase, a statement said.