Dragon Oil (UAE) expects to completely stop flaring associated gas by 2027 in Turkmenistan. In doing so, the company will contribute to achieving climate neutrality.
This was announced by Ali Rashid Al Jarwan, CEO of Dragon Oil, after signing an agreement to decarbonise its oil and gas operations during the COP28 conference events in Dubai, UAE.
The company has been operating in Turkmenistan's national sector of the Caspian Sea for more than 20 years.
"This step represents a clear testimony that Dragon Oil realizes the importance of increasing measures to support the world’s movement towards a future free of greenhouse gas emissions".
The company recently announced the extension of its contract with the Turkmen side until 2035 and intends to invest $8bn in the contract area over the next 15 years.
Dragon Oil is listed on the London and Dublin stock exchanges (ticker: DGO) and its major shareholder is ENOC.
Eziz Boyarov
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