President of Turkmenistan Serdar Berdimuhamedov received Chairman of the Board of Directors of Dragon Oil Saeed Al Tayer on Monday, TDH reports.

During the meeting, the parties discussed the possibility of expanding long-term partnership, taking into account the accumulated experience of joint work and Turkmenistan's plans to develop the fuel and energy complex.

Among the priority tasks facing this key sector of the national economy of our country is increasing the volume of oil and gas production and processing, as well as the export of Turkmen energy resources and finished oil and gas chemical products.

President Serdar Berdimuhamedov noted the presence of good prospects for expanding cooperation and the willingness of the Turkmen side to consider specific proposals from the company. The head of Turkmenistan expressed confidence that the meetings to be held during the current visit will contribute to the further development of bilateral relations.

 – The United Arab Emirates has extensive experience in the fuel and energy sector, – said the head of state, noting the positive dynamics of cooperation in this area with leading UAE companies.

At the end of the meeting, President Serdar Berdimuhamedov and Chairman of the Board of Directors of Dragon Oil Saeed Al Tayer exchanged good wishes, expressing interest in further developing mutually beneficial partnership.

It is worth noting that Dragon Oil (Turkmenistan) Ltd and the Government of Turkmenistan signed a Production Sharing Agreement in 2000, which granted the company a 25-year license for exploration and production of oil and gas in the Cheleken offshore block, which includes the Dzheitune and Jigalybeg fields.

In July 2022, the State Concern Turkmennebit and Dragon Oil (Turkmenistan) Ltd. Signed a document extending the PSA until May 1, 2035.  The company's main objective is to increase oil production from the Cheleken contract area.