Dubai: Dragon Oil (International) Ltd, a wholly owned subsidiary of the Emirates National Oil Company (ENOC) – Government of Dubai, has entered into a Memorandum of Understanding (MoU) with Malaysia’s PETRONAS. This agreement, represented by PETRONAS Carigali International Ventures (PCIV), aims to enhance cooperation in oil and gas exploration and production while promoting the exchange of technical expertise in the upstream sector.
According to Emirates News Agency, the signing of the MoU aligns with Dragon Oil’s global growth strategy, which focuses on broadening the company’s exploration activities and enhancing its production portfolio. This agreement marks the potential beginning of a strategic partnership, with both parties exploring new areas for technical and commercial collaboration. They also aim to identify future joint project opportunities within the energy sector.
Dragon Oil, the main crude oil producer in Turkmenistan and a strategic partner of the Turkmen Government for over 25 years, continues to strengthen its international presence and pursue growth opportunities in key energy markets. Abdulkarim Al Mazmi, Chief Executive Officer of Dragon Oil, emphasized the company’s commitment to collaborating with leading international energy companies like PETRONAS, recognizing its extensive global expertise and advanced capabilities in exploration and production.
Al Mazmi stated, “By working together, we aim to create synergies that will support both organizations in developing efficient, high-quality projects and achieving shared objectives.” He further noted that the MoU aligns with Dragon Oil’s broader vision to expand its global footprint and establish long-term partnerships that drive sustainable growth.
The MoU was signed by Fareed Al Hashmi, Chief Growth Officer of Dragon Oil, and Azahari Mohd Shuid, Senior General Manager of Strategy and Commercial at PETRONAS. The signing ceremony was attended by Abdulkarim Al Mazmi, CEO of Dragon Oil, and Mohd Jukris Abdul Wahab, Executive Vice President and CEO Upstream at PETRONAS.