Turkmenistan and the UAE Discuss Implementation of Investment Projects

Negotiations were held between the leaders of the key structures of the two countries.

A delegation from the UAE, led by the Chairman of the Board of Directors of Dragon Oil, Said Mohammed Al-Tayer, met with the Vice Premier of Turkmenistan, Batyr Amanov, and the Chairman of the state concern “Turkmenoil,” Guvanch Agadjanov. The parties discussed the implementation of long-term investment projects in the “Cheleken” and “Block 19” areas.

Participants reviewed issues regarding investments exceeding $10 billion for the development of extraction on the concession territory of Cheleken. Dragon Oil confirmed its commitment to environmental protection during operations by developing inspection, maintenance, and operational standards to minimize pollution and reduce the impact on the Caspian ecosystem.

Furthermore, discussions focused on new plans for marketing crude oil in Turkmenistan. This demonstrates the dedication of both sides to strengthening cooperation and exploring new opportunities for mutual benefit. The Turkmen side highly appreciated the collaborative work with Dragon Oil and invited the company to participate in an investment forum scheduled to take place in Ashgabat in September 2024.