dragon oil
enoc already owns 53. 9 per cent of dragon oil (source: dragon oil )
dragon oil is an upstream oil and gas exploration, development and production company .
[ ii ] dragon oil plc, “about us”, dragon oil; urltoken. accessed july 1, 2012 .
dragon oil partnered with enel to explore and exploit the tinrhert nord perimeter (dragon oil 70% paying interest and operator) and the msari akabli perimeter (dragon oil 30% paying interest) .
professionals originating from 40 countries come together at dragon oil to achieve mutual success .
welcome to the dividend - related section of dragon oil' s corporate website .
dragon oil is an upstream oil and gas exploration, development and production company. the group’s headquarters are in dubai, united arab emirates. dragon oil is a privately held and wholly owned subsidiary of emirates national oil company (enoc) l. l. c. dragon oil is registered in ireland (company registration no: 35228) .
dragon oil is an upstream oil and gas company, a privately held and wholly owned subsidiary of emirates national oil company (enoc) l. l. c .
here you will find current employment opportunities across dragon oil' s offices and operational sites .
saif al falasi, the chief executive of enoc, will also run dragon oil. wam
our headquarters are located in dubai, united arab emirates. dragon oil is owned by the government of dubai through emirates national oil company .
dragon oil share price soars as board agrees £3. 7bn takeover offer | city a. m .
dragon oil has been successfully working in turkmenistan since 2000 as a sole operator of the cheleken contract area .
dragon oil’s main asset is the cheleken offshore oil and gasfields in turkmenistan, where it is sole operator under a production - sharing agreement with the government .
in afghanistan, dragon oil in a consortium of companies is exploring blocks near the borders with turkmenistan and uzbekistan .
dragon oil, headquartered in dubai, uae, is a privately held and wholly owned subsidiary of emirates national oil company (enoc) l. l. c .
enoc said the deal aligns with its strategy to become “a fully integrated global oil and gas company”, adding dragon oil’s upstream asset to its downstream and midstream business .
markets update: stocks see strong performance, with dubai' s dragon oil rising to a two - month high .
under the production sharing agreement, dragon oil (turkmenistan) ltd, as operator, was granted a production licence for the exploration and development of oil and gas resources in the cheleken contract area for a term of 25 years from 1 may 2000 and an exclusive right to negotiate an extension of not less than 10 years. dragon oil (turkmenistan) ltd is a 100% subsidiary of dragon oil plc .
dragon oil has been developing a gas treatment plant at cheleken to be able to strip condensate and ship it for export .
dragon oil was a “silver sponsor” of the 2010 turkmenistan international oil and gas conference, a “bronze sponsor” of the 2011 turkmenistan gas conference, and a “silver sponsor” of the 2012 turkmenistan international oil and gas conference. [ vii ]
dragon oil is to pay 75 per cent of drilling costs - up to $ 26. 6 million - in exchange for a 55 per cent stake in a new joint venture company with australia' s cooper energy and jacka resources. courtesy dragon oil
dragon oil’s board yesterday approved a sweetened takeover offer from emirates national oil company (enoc), breathing fire into its share price on hopes that minority shareholders will accept the deal .
dragon oil, the producer majority - owned by dubai, has chosen tunisia as the stage for its first expansion outside turkmenistan .
dragon oil has become aware of fraudulent representations that have been made by individuals or organisations who are not associated with the group .
dragon oil in partnership with enel was awarded two onshore exploration perimeters, tinrhert nord perimeter and msari akabli perimeter, in 2014 .
dragon oil shares have soared after the turkmenistan - focused explorer accepted an improved £3. 7 billion offer from a middle eastern suitor .
dragon oil is committed to developing our employees in line with our ambitious strategy for growth. the human resources team is continuously seeking motivated individuals with strong managerial, technical and business skills who are interested in developing a long - term and satisfying career with dragon oil .
[ ix ] dragon oil block ii field development project: environmental impact assessment, oct. 1999, appendix g2, hazard analysis .
east zeit bay (in which dragon oil has a 100% interest) is located offshore in the southern gulf of suez region .
the dubai government’s aim in taking full control of the company was to use dragon oil as a vehicle to diversify the emirate’s upstream oil and gas assets for energy security purposes, among others .
the tunisian investment could offer a potential supply source for emirates national oil company (enoc), which owns 51 per cent of dragon .
emirates national oil company (enoc) on tuesday said its chief executive would be the new chief executive of dragon oil, which enoc acquired fully in 2015 as a key plank in its diversification strategy .
saif al falasi, enoc chief executive, said: “as a long - term and supportive shareholder, we appreciate dragon oil’s achievements to date .
shares of dragon oil listed in dublin jumped 1. 8 per cent to close at €5. 60 on monday, the day of the announcement .
mr al khalifa, the outgoing chief executive, had been a long - serving executive at saudi aramco before taking over at dragon oil in 2008 .
in march 2009, dragon oil released a statement revealing that senior employees—since fired—in the marketing and contracts department had solicited bribes from contractors. [ iii ]
dragon oil, a petroleum producer majority - owned by dubai, has bought into an exploration block in the country whose ongoing revolution sparked the arab spring .
[ iii ] eurasianet. org, “turkmenistan: dragon oil guilty of ‘certain irregularities’, ”24 mar. 2009, urltoken. accessed february 9, 2011 .
dragon oil exited a farm - in agreement with nido petroleum philippines limited for service contract 63 (sc 63) nw palawan basin, offshore the philippines .
the participating interest of dragon oil, turkiye petrolleri a. o. (tpao) and the ghazanfar group in the two blocks is 40% , 40% and 20% , respectively. dragon oil is the operator of the sanduqli block while the mazar - i - sharif block is operated by tpao .
dragon oil jointly bid with kuwait energy in respect of block 9. the contract was initialled by the iraqi ministry of oil and the consortium on 16 july 2012 and the final services contract was signed on 27 january 2013 .
the report from an independent petroleum engineer incorporating the results of testing the mishrif formation indicated contingent 2c oil resources of 198 million barrels and contingent 2c gas resources of 56 bscf net to dragon oil on a working interest basis .
on 22 february 2011, dragon oil introduced the dividend payments. dragon oil did not pay any dividends in previous years. the dividends were declared and paid twice a year, in february (final dividend) and august (interim dividend) starting from 2011 and through to 1h 2015 for years 2010 - 2014 .
shares in dragon oil, an exploration company in dubai, rose to a two - month high after announcing a 30 per cent increase in daily production last year .
[ vi ] andre lamberti, “dragon oil completes new development well offshore turkmenistan. ” proactive investors, may 16, 2012; urltoken. accessed july 2, 2012 .
in 2000, dragon oil was awarded a 25 - year production sharing agreement to explore and develop oil and gas at the offshore cheleken contract area. dragon oil was also awarded the exclusive right to negotiate an extension of up to ten years, following the completion of the original 25 - year agreement. the cheleken contract area includes two fields—the dzheitune (lam) and dzhygalybeg (zhdanov) —which together comprise 950 square km. [ ii ]
[ vii ] 17 th turkmenistan international oil and gas conference, “sponsors, ” turkmenistan international oil and gas conference; urltoken. accessed july 5, 2012 .
the company hasn’t yet made any significant upstream acquisitions. before it was bought out, dragon oil struggled to diversify and had to abandon a £492 million bid for petroceltic, an exploration and development company based in dublin, ireland, when oil prices collapsed in 2014 .
we believe our experience offshore [ in ] turkmenistan with complex and challenging reservoirs will be useful
in tunisia, said abdul jaleel al khalifa, the chief executive of dragon oil .
we have also become aware of questionnaires being sent out from [ email protected ] asking for personal information. [ email protected ] is not an authorized e - mail address for dragon oil .
“moreover, with production close to plateau at its sole producing asset and with an uncertain market backdrop, this offer provides dragon oil’s minority shareholders certainty and a clear opportunity to realise significant cash today. ”
but the prospect of further change to the government could change the landscape for foreign companies such as dragon oil. elections for an assembly to craft a new constitution in tunisia are scheduled for october 23 .
saif al falasi takes over with immediate effect from abdul al khalifa, who had been head of dragon oil since 2008, enoc, which is owned by the dubai government, said in a statement .
the eia was published in october 1999, and public consultation meetings took place in accordance with ebrd standards, as the project received financing from the institution. according to the eia, dragon oil consulted with twenty - nine organizations and forty - two specialists during the consultation process. dragon oil held public meetings in ashgabat, nebit dag, turkmenbashi and cheleken as part of the public disclosure process. [ x ]
kuwait energy corporation (kec) is the operator for block 9, participating with a 60% contractor share, while dragon oil has 30% and egyptian general petroleum corporation (egpc) has 10% .
on 30 september 2014, dragon oil in partnership with enel trade s. p. a. (“enel”) was awarded two exploration blocks (“perimeters”) in algeria, tinrhert nord perimeter and msari akabli perimeter .
dragon oil has been successfully operating in turkmenistan for almost 16 years. we have invested significant funds in expanding the oil production in the cheleken contract area, and as such, we are one of the largest foreign investors in turkmenistan. the group is producing from a significant number of new and old wells .
mr al falasi takes over at a time when dragon oil “continues on its path to accelerate the development of the cheleken contract area, pursue opportunities for gas monetisation and explore value - enhancing acquisitions within its diversification strategy” .
dragon oil’s primary marketing and sales objective is to ensure the safe and uninterrupted sale and delivery of its entitlement barrels to international markets, and to achieve best available market prices, subject to logistical considerations and market conditions .
in may 2012, a consortium of companies including dragon oil was awarded an exploration, development and production contract (edpsc) for block 9 in iraq’s fourth bidding round. block 9 is located in the basra province .
dragon oil is satisfied that the current marketing arrangements provide a secure and reliable export route for our entitlement production with sufficient capacity to satisfy its current anticipated needs. nonetheless, to gain further access to international markets and maintain flexibility in operations, we continue to review and test alternative routes for exporting our crude oil .
the company' s dublin - listed shares rose 2 per cent to €6. 07 each, despite worries of securing a sales agreement with the government of turkmenistan. dragon oil is expected to announce its financial results next month .
at dragon oil we have always believed that the best, and right, way to run our business is in a spirit of partnership. all sides should benefit, ranging from employees and shareholders to suppliers and our host communities .
dragon oil and enel jointly participated in the 4 th bid round to award hydrocarbons exploration and exploitation contracts conducted by l’agence nationale pour la valorisation des ressources en hydrocarbures of algeria and bid on the scope and value of the work programme .
dragon oil’s main asset is the cheleken offshore oil and gasfields in turkmenistan, where it is sole operator under a production - sharing agreement with the government. it has invested more than us $ 5bn over the past decade - and - a - half to reach production levels of about 100, 000 barrels per day by the end of 2015 .
enoc already owns 53. 9 per cent of dragon oil. it needs the majority of the other shareholders to agree to the deal, around 23 per cent. enoc then plans to delist the firm from the irish and london stock exchanges .
dragon oil' s investment comes less than a year after a vegetable seller in tunisia set himself on fire, sparking a revolution that unseated zine el abidine ben ali from the presidency and inspired uprisings in nations including libya and egypt. fears of supply disruptions stemming from the regional unrest helped push oil prices up as high as $ 126 a barrel this year .
east zeit bay (in which dragon oil has a 100% interest) is located offshore in the prolific southern gulf of suez region. the block covers an area of 93 km 2 and lies in shallow waters ranging in depth from 10 to 40 metres .
the deal valued dragon at about £4 billion (dh17. 85bn) when it was bought out and de­listed from the london and irish stock exchanges .
in september 2015, enoc bought out the 46 per cent of dragon oil that it did not already own after a prolonged wooing of minority shareholders that required it to pay a 57 per cent premium to the share price at the time of the original offer six months earlier .
oil discovered in the cheleken peninsula onshore as far as in the 1st century bc, is extracted for export and barter .
east zeit bay (in which dragon oil has a 100% interest) is located offshore in the prolific southern gulf of suez region. the block covers an area of 93 km 2 and lies in shallow waters ranging in depth from 10 to 40 metres. a number of producing oil fields are adjacent to or near the block, namely east zeit, hilal, ashrafi, sw ashrafi and zeit bay fields .
dragon oil’s largest minority shareholder baillie gifford, which has a 7. 2 per cent stake in the company, is rumoured to think the 750p offer is inadequate. the asset manager declined to comment. “i think baillie gifford will play hardball to get more money, but it’s unlikely they’ll be able to as it’s not a hostile takeover – it has been recommended by the board, ” said oil and gas analyst malcolm graham - wood .
preliminary tests of the faihaa - 1 mishrif formation resulted in a flow rate of circa 2, 000 barrels of oil per day (bopd) and c. 3, 400 bopd of 20 api oil on 32
/ 64
and 64
/ 64
chokes, respectively .
anti - corruption sentiment has also made tunisian officials more careful in compensating foreign operators for the oil and gas they produce, leading to some delays .
later in the year, in december, the partners reported their second oil section discovery in the second target, the yamama formation, reached at 4, 000 meters in the same faihaa - 1 exploration well. preliminary open hole tests of the faihaa - 1 yamama formation resulted in oil flow rates of c. 5, 000 and 8, 000 bopd of 35 api crude oil on 32” / 64” and 64” / 64” chokes, respectively .
dragon oil’s group headquarters are located in dubai, united arab emirates, and the company' s senior management are based in the dubai office, including the chief executive officer ali r al jarwan. all key personnel regularly visit the operations in turkmenistan. we have recently set up offices in mazar - i - sharif in afghanistan, cairo, egypt and algiers, algeria .
majority shareholder emirates national oil company is set to pay 750p a share, up from 735p, to buy out investors controlling the other 46% of the company .
under the tunisia agreement, dragon oil is to pay 75 per cent of drilling costs - up to $ 26. 6m - in exchange for a 55 per cent stake in a new joint venture company with australia' s cooper energy and jacka resources. the tunisian government has yet to approve the farming - out of the exploration block, which covers 4, 616 square kilometres of seas .
dragon oil’s main producing asset is the cheleken contract area, located in the eastern section of the caspian sea and operated from our onshore base near the town of hazar, located on the western coast of turkmenistan. our administrative office is in the capital of turkmenistan, ashgabat, where our general manager, mohamed abdalla alraeesi, and deputy general managers, eldar kazimov and guvanch ilmuradov are based .
we would never ask for payment as any part of our recruitment process. we never send unsolicited e - mails to find out future or potential employees’ personal details. dragon oil always contacts the candidate directly and conducts a panel interview, and then discusses all recruitment issues before sending out any contract. we process all immigration needs and requirements ourselves and we never ask the candidate to pay any charges .
according to the company’s 2011 full year results, dragon oil achieved $ 1151 million in revenues, a 67 percent increase over 2010. [ xi ] the company, which is debt - free and has $ 1. 34 billion in the bank, has been recommended by its board of directors to pay a full - year maiden dividend of 14 us cents / share for 2010, which will cost a total of us $ 72. 2 million. the company’s oil reserves totaled 658 barrels and its gas reserves stood at 1. 4tcf as of the close of 2011. [ xii ]
we employ over 2, 000 employees of whom the majority are working in turkmenistan and are turkmen nationals. about 200 employees are based in dubai and provide administrative and technical support to our operations on the ground. dragon oil’s employees come from all over the world and have diverse cultural, educational and technical backgrounds. we are proud to maintain a culture of promoting diversity in our approach to hiring and developing our human resources .
in particular, we have become aware recently of e - mails that claim to have been sent by dragon oil group personnel from our london or dubai offices and the pack usually includes terms and agreement, an employment contract, legal information and a letter of appointment. the fraudsters give details of a non - existing immigration agency and ask people to sign these documents and pre - pay the procurement of an air ticket and a visa .
shares in the oil explorer, which operates in turkmenistan, soared 9. 6 per cent to a record high of 734p in early trading, before settling to close 8. 4 per cent higher at 726p. analysts put the dubai state - owned oil company’s raised offer of 750p per share – which values the company at £3. 7bn – at the higher end of their estimates .
the consortium commenced oil production from faihaa - 1 well in 2015. production began from the faihaa - 1 well in the order of 5, 000 bopd on 32
/ 64
choke .
crude prices rose after european leaders meeting in brussels agreed on the details of an oil embargo against iran. brent futures gained 63 cents to us $ 110. 26. qatar and kuwait fell, while markets in saudi arabia and oman made muted gains .
the cheleken contract area covers approximately 950km² and comprises two offshore oil and gas fields, dzheitune (lam) and dzhygalybeg (zhdanov), in water depths of between eight and 42 metres. the fields comprise two elongate anticlines situated at the eastern end of the prolific hydrocarbon aspheron ridge .
“the addition of an upstream arm to enoc is important not only for the future of the group but for the emirate of dubai as a whole, ” the company said in on tuesday’s statement. “enoc is now a vertically integrated oil and gas business that is well positioned to strengthen the nation’s energy security. ”
the dubai government - owned producer and retailer, which buys oil at market prices but must sell it at a lower rate mandated by the federal government, has struggled this year to supply its petrol stations in sharjah and the northern emirates. the sharjah government ordered enoc' s stations there to shut down after they failed to restore the flow of petrol .
the consortium spudded the exporation well in march 2014. on 10 september 2014, we alongside our partner kuwait energy announced our first oil discovery at block 9. the successful discovery was at the consortium' s first target, the mishrif formation at 2, 700 meters, in its block 9 exploration well, ‘faihaa - 1’, located in northern basra, iraq .
it is also likely to result in a change in strategy for the dubai - headquartered business .
“we believe that it has now achieved as much as is possible through its existing upstream strategy .
the agreement to invest up to us $ 26. 6 million (dh97. 6m) in an offshore field in tunisia is the company' s first step outside turkmenistan after lacklustre drilling in yemen .
of course they could have found [ assets ] in a safer region, but that would have come at the much higher price ,
said pavel sorokin, an analyst at alfa bank in moscow .
there are political risks in tunisia, but the political risks are associated with any country in the region .
the selection of projects in which they can participate and which will not come at a huge price is quite limited globally ,
said mr sorokin .
they' re trying to maximise the potential return without making huge upfront payments .
there' s been a widespread climate of suspicion and uneasiness among the tunisian bureaucrats ,
mr gallopin said .
the officials at the high level are wary of being accused of illegal dealings, and as a result they are being very cautious in their dealings with private companies in general .
the uae' s exchanges rose, with the dubai financial market general index gaining 0. 4 per cent to 1, 340. 70, while the abu dhabi securities exchange general index climbed 0. 5 per cent to 2, 352. 74 .
local markets reported a strong session, driven by increased trading activity, said marwan shurrab, the chief trader at gulfmena alternative investments .
we saw the return of turnover across the board ,
he said .
arabtec in dubai managed to rally on strong sentiment in the retail segment of investors piling in. in abu dhabi, the focus was mainly on the banking sector and banks about to announce earnings before the end of this month .
national bank of abu dhabi rose the most in a month after the capital' s biggest bank said it had hired a specialist in mergers and acquisitions .
the lender said it had hired michael aissaoui, the former regional head of mergers and acquisitions at société générale .
the bank' s stocks rose 2. 3 per cent to dh10. 70 each in trading .
gains at arabtec, air arabia and union properties pushed dubai' s market upwards .
the group has exploration assets in tunisia, iraq, afghanistan, egypt and algeria and a producing asset in turkmenistan .
we have a solid track record of delivering organic growth in production and reserves from our key asset .
we offer high quality careers and opportunities for everyone, with a particular focus on our local employees. we are committed to personal growth and development through excellent training and challenging opportunities. we embrace diversity and foster a positive working culture .
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our focus is on the development of our producing asset, gas monetisation opportunities and expansion into a multi - asset company .
our principal producing asset is the cheleken contract area, in the eastern section of the caspian sea, offshore turkmenistan. we have exploration blocks in partnership with other companies :
we have almost 1, 900 employees of whom 1, 700 are working in turkmenistan and majority of whom (93 %) are turkmen nationals while approximately 200 employees are based in dubai, our head office .
at the heart of our people first culture is education, training and personal development .
training and development are at the heart of our human resources strategy. we offer both internal and external training, as well as internship opportunities .
we ask you to check the details of any offer against what is published on our website and we encourage you to apply for suitable positions through our website .
the company also has interests in exploration assets in iraq, algeria, tunisia, afghanistan and egypt .
enoc was founded 24 years ago and has dozens of subsidiaries, including refining at jebel ali free zone, which it is expanding significantly, and retail stations throughout dubai and saudi arabia .
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the cheleken peninsula is a continuation of the apsheron ridge, which is a prolific hydrocarbon play extending from the apsheron peninsula in azerbaijan to the cheleken peninsula in turkmenistan. the ridge divides the south caspian basin from the middle caspian basin .
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enoc made an offer of 650p per share in march, which it raised to 735p per share at the end of may. it also made a rebuffed offer back in 2009 .
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contact information group headquarters enoc house ii, 3rd floor right wing, sheikh rashid road p. o. box 34666, dubai – u. a. e. t: + 971 4 3053600 f: + 971 4 3356954
[ viii ] crude accountability, turkmenistan’s environmental risks in the era of investment in the hydrocarbon sector, sept. 2007, 11 .
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we have a producing asset in turkmenistan and exploration assets in a number of countries .
we have exploration blocks in iraq (block 9), algeria (tinrhert nord perimeter and msari akabli perimeter), egypt (east zeit bay), afghanistan (sanduqli and mazar - i - sharif blocks), and tunisia (the bargou exploration permit) .
exploration block 9 is located in the basra province, iraq. it is an edpsc in partnership with kuwait energy and egyptian general petroleum corporation .
the bargou exploration permit is located offshore tunisia, in the gulf of hammamet in the mediterranean sea .
the contract for the exploration and exploitation of hydrocarbons was signed on 29 october 2014 .
the sanduqli block borders turkmenistan and uzbekistan in the north and spans 2, 583km². the mazar - i - sharif block borders uzbekistan in the north and has an area of 2, 715km² .
block 9 is located in the basra province, onshore iraq, and covers an area of 866km 2.
dragon oil plc is an independent international oil and gas exploration , development and production business . it is based in dubai and was listed on the irish stock exchange until it was acquired by the emirates national oil company . 
dragon oil plc is an independent international oil and gas exploration, development and production business. it is based in dubai and was listed on the irish stock exchange until it was acquired by the emirates national oil company.
dragon oil plc is an independent international oil and gas exploration, development and production business. it is based in dubai and was listed on the irish stock exchange until it was acquired by the emirates national oil company.