Turkmenistan, UAE Explore Enhanced Cooperation in Oil and Gas Sector
Ashgabat, The Gulf Observer: Turkmenistan and the United Arab Emirates have held discussions on expanding their partnership in the oil and gas sector, the UAE Embassy in Turkmenistan announced on Thursday.
The talks took place in Ashgabat between Maksat Babaev, Chairman of the State Concern Türkmengaz, and UAE Ambassador Ahmed Al-Hameli, focusing on opportunities to strengthen bilateral cooperation in the energy field.
Practical energy collaboration between the two countries has grown significantly since 2000, when Dragon Oil began operations in Turkmenistan under a production-sharing agreement. The company’s activities have centered on hydrocarbon extraction in the Cheleken contract area in the Caspian Sea.
In a major development, the State Concern Türkmennebit and Dragon Oil (Turkmenistan) Ltd. recently signed an agreement extending the production-sharing arrangement until May 1, 2035, paving the way for continued long-term cooperation and investment in Turkmenistan’s energy sector.
