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Dragon Oil Extends Turkmenistan Production Partnership in $1B Deal

July 5, 2022

Credit: Wikimedia Commons
Credit: Wikimedia Commons

Dubai-based Dragon Oil signed a $1 billion deal to renew its production partnership in Turkmenistan with state-owned Turkmen Oil for 10 years after the current contract expires in May 2025, the United Arab Emirates state news agency WAM said on Monday.

Of the total value, $500 million will be paid in cash while the remaining $500 million will be paid over 13 years.

(Reuters - Reporting by Moataz Mohamed; Editing by Paul Simao)



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