Abu Dhabi:Dragon Oil, a subsidiary of Emirates National Oil Company (ENOC) Group, is targeting an increase in its oil production to 200,000 barrels per day by 2030. This marks a significant rise from its current production of approximately 150,000 barrels per day. The company plans to achieve this through expanding investments in existing operations and exploring new opportunities across the Middle East, Africa, and Southeast Asia.
According to Emirates News Agency, Abdulkarim Ahmed AlMaazmi, CEO of Dragon Oil, shared insights on the company's expansion strategy during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2026). AlMaazmi highlighted the company's 26 years of experience in the energy sector as a foundation for its growth ambitions.
Dragon Oil has been operational in Turkmenistan since it secured a 25-year concession, which was later extended to 35 years. In 2019, the company expanded its footprint by acquiring a concession in Egypt's Gulf of Suez and holds a 30% stake in Iraq's Al Faihaa Field. Currently, its primary operations are focused in these three countries.
AlMaazmi detailed Dragon Oil's two-pronged growth approach expanding within existing operational areas in Turkmenistan, Egypt, and Iraq, and entering new markets, particularly in the Middle East and Africa. The company is also evaluating opportunities in Southeast Asia, with a focus on Malaysia and Indonesia.
He emphasized the significance of ADIPEC, noting Dragon Oil's participation in the event approximately seven times since 2018. AlMaazmi recognized the exhibition as a vital platform that unites energy producers, consumers, contractors, and decision-makers, facilitating cooperation, deal-making, and the exchange of technological expertise.
AlMaazmi concluded by affirming ADIPEC's status as a premier global platform for the oil and energy industry, underscoring Abu Dhabi's and the UAE's role in convening industry leaders to foster collaboration and advance the global energy sector.