Dubai-owned Dragon Oil Holdings is planning to boost its crude production by nearly 120,000 barrels per day (bpd) through expansions in its operations in Iraq and Turkmenistan, its CEO said in press comments published on Wednesday.

Ali Al-Jarwan told the semi-official UAE daily Alittihad that the Company, which is wholly owned by the Emirates National Oil Company (ENOC), currently produces 180,000 bpd from its facilities abroad and is planning to boost output to 300,000 in 2026.

He said the increase in production would be achieved from expanding operations in some countries, mainly Turkmenistan, Egypt and Iraq.

He told the paper Dragon Oil has investments in South Iraq and in Egypt, where it controls 23 fields producing nearly 60,000 bpd, adding that the Company is also the sole foreign oil operator in Turkmenistan.

“We now have an ambitious expansion plan outside the UAE…we are currently aiming to expand our operations in Iraq and Turkmenistan, which we give priority for the time being…we are also looking for new opportunities in other countries, including Azerbaijan,” Jarwan said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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