14
Oct
1 Comment Uncategorized
2014Dragon Oil in partnership with Enel is awarded two onshore exploration permits in Algeria and made two successful oil discoveries in Block 9, Iraq, in partnership with Kuwait Energy. Dragon Oil won an offshore exploration block in Egypt.
Ali Rashid Al-Jarwan
Ali Rashid Al-Jarwan, Managing Director, Exploration & Production and CEO of Dragon Oil, was appointed in his capacity by the Dragon Board in March 2017. Al-Jarwan has more than 35 years of experience in the field of oil exploration and production and has held a number of senior management roles at Abu Dhabi National Oil Company (ADNOC) group of companies – Abu Dhabi Company for Onshore Oil Operations (ADCO), as well as Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO). Over the years, Al-Jarwan has received several industry honors, including the Society of Petroleum Engineers (SPE) distinguished membership, two innovation awards from BP Middle East, ADNOC’s 2010 Health, Safety, and Environment Man of the Year Award, and several SPE recognition awards – the latest being Honorable SPE Member. Al-Jarwan is the Founder and Chairman of Gas and Oil Technology Conference (GOTECH). He has also chaired several international conferences such as GEO in 2002, the 8th HSE International Conference in 2006, Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2006, 2008, and 2012 and the SPE Annual Technical Conference and Exhibition (ATCE) in 2022. Al-Jarwan holds a Bachelor of Science (BSc) degree in Petroleum Engineering from the University of Oklahoma in the United States. He is an associate of Cranfield School of Management in the United Kingdom, and International Institute for Management Development (IMD) in Switzerland. Mr. Ali Rashed Al-Jarwan has a strong background in both technical fields and leadership roles, with significant experience in oil and gas field development, project management, and operations. Since 2006, he has served as CEO of notable companies like Abu Dhabi Marine and Dragon Oil.
Fareed Abdulla Al Hashmi - Chief Growth Officer
Mr. Fareed Abdulla Al Hashmi serves as the Chief Growth Officer (CGO) of Dragon Oil since 2025. He joined Dragon Oil in July 2017 as Executive Director – Petroleum Development. In 2018, he was appointed Chief Operating Officer for the Turkmenistan asset. Later, in late 2022, he took on the position of COO responsible for the Egypt and Iraq assets. With over 35 years of experience in field development, drilling, operations and as well as management, he worked namely for ADNOC Onshore & Offshore. With over 35 years of experience in field development, drilling, operations and as well as management, he worked namely for ADNOC Onshore & Offshore. Mr. Fareed holds a Bachelor of Science degree in petroleum engineering from WVU in USA. Additionally, in 2004, he was appointed as the Chairman of the newly formed ADNOC/Petroleum Institute Research & Development Oil Sub-Committee. In July 2007 he was appointed as the Assistant General Manager (Existing Development) and by January 2010 became responsible for Bab Field and ADNOC Sole Risks as Senior Vice President (Bab & Gas). Mr. Fareed also served as the Regional Director of the Society of Petroleum Engineers (SPE) representing Middle East and North Africa for the period 2013-2015. From 2008–2016, Mr. Fareed served ADIPEC as Technical Program Chairman. In 2021, he was the program chair for SPE’s ATCE event which took place in Dubai. Since 2018 he has been chairing the GOTECH technical program.
Tayeb Huwair - Chief Operating Officer
Mr. Tayeb Huwair has 33 years of multi-faceted experience in Oil & Gas Industry. He has successfully steered selection of development concepts, ranking of capital investments, project management & engineering functions in addition to production operations and business planning functions. He joined Dragon Oil in 2017 as Executive Director Projects & Engineering based in Dubai and established a robust and competent organization in addition to implementing a Value Assurance Process for projects. In 2019, following the acquisition of BP’s working interest in Gulf of Suez producing oil assets, he was appointed as Chief Operating Officer of the newly formed Non-Operated Assets Division. In 2022, he took over Dragon Oil’s Operated Asset in Turkmenistan. Before joining Dragon Oil, Mr. Tayeb worked for ADNOC Offshore where he steered several Greenfield mega–projects with over billion-dollar budgets and brownfield projects for debottlenecking & capacity upgrade. At ADNOC Offshore, he also managed corporate planning functions and was in-charge of delivery of the company business plan and Fields Master Plans, in addition to sponsoring several production enhancement initiatives.
Abdulkarim Ahmed Almaazm - Acting Managing Director Exploration & Production and Chief Executive Officer
Mr. AlMaazmi brings over four decades of global experience across the oil and gas value chain. He leads the company’s strategic agenda to unlock long-term value and expand its presence across core markets in the Caspian Sea and MENA regions, with a strong operational footprint in Turkmenistan, Egypt, and Iraq, thereby driving a future-fit operating model to realize the DO vision to become an IOC with a relentless commitment to safety & sustainability.
Since joining Dragon Oil in May 2018 as Executive Director of Exploration and New Ventures, Mr. AlMaazmi has been instrumental in successfully executing a focused growth strategy that led to high-impact major acquisition, a landmark deal in Egypt that doubled the company’s total net production, delivering material returns to shareholders and reinforcing the company’s regional leadership.
Prior to DO, Mr. AlMaazmi held various senior leadership roles over a distinguished career at BP UAE, playing a notable role in the 40-year renewal of the ADCO concession - one of the most significant oil-producing assets globally.
Mr. AlMaazmi has completed various executive leadership programs. He is widely respected for his international leadership, deep sector insight, and commitment to driving value through innovation and partnership
Outside Interests, Industry Awards and Honors:
- Board Member, ADCO, ADMA, ADGAS, NGSCO & Bunduq AD (2011–2016)
- Board Member, Anabeeb JV Company – Sharjah (2010–2016)
- Governance Board Member, Petroleum Institute – Abu Dhabi (2011–2016)
- Trustee, Emirates National Development Program – Dubai (2005–2013)
- Board Member, USA/UAE Business Council (Representing BP, 2010–2013)
Mana Bin Qutami - Executive Director
Mr. Mana Bin Qutami comes to us with finance background and over 20 years of experience in the public and private sectors. On 13th of January 2013, Mr. Mana Bin Qutami Joined Dragon Oil as JV Accountant looking after our new concessions, in 2015 he was promoted to Head of Procurement Operations and in 2016 and was promoted to become Deputy HR Director from there in 2017 he took over as Director Of HR and later on and by August 2017 he was assigned as Executive Director for Corporate Services. He is responsible for leading, directing, and managing Dragon Oil’s HR, IT and Procurement services ensuring effective development and implementation of strategies, processes, policies, and procedures in order to support the achievement of business objectives in line with the vision. His career also includes experience in structured finance, merges and acquisitions from the banking sector and has worked in the banking sector (Corporate Structure Finance M&A) for 12 years, he holds a Bachelor Degree in Finance, BTEC Professional Diploma in Management Studies 2007 and in 2009 he has earned his MBA from University of Sunderland UK and has also attained the International Petroleum Management Certification from the Institute for Petroleum Development in the United States.
Ahmad Bin Obood - Chief Financial Officer
Mr. Ahmad Bin Obood has been the CFO of Dragon Oil for the last six years. He has over 23 years of leadership and financial experience, mainly in the Government Sector. Mr. Ahmad earned a B.Sc degree in Accounting from the Higher Colleges of Technology in Dubai, an MBA from Zayed University, and a degree in Leadership from Harvard School. Mr. Ahmad held several leadership positions, including the Director of Finance at Dubai Health Authority and the Director of Finance at Dubai Land Department. In 2012, he also served as the Director of Finance at the Prime Minister’s Office. Mr. Ahmad received and still receives several awards, such as the distinguished Government Employee across the Emirate of Dubai and the Finance Leader of the Year 2021.
Senior Director - Executive Office
Ms. Muna Al Alawi holds a Bachelor Degree in Chemical Engineering, followed by a Masters Degree in Sustainable Process Management from the University of Heriot-Watt in Scotland. She has more than 20 years of experience in ADNOC Group of companies and has joined Dragon Oil since 2020. In 2025, She is appointed as the Senior Director - Executive Office of Dragon Oil. Her experiences extend to various different senior management positions in several areas, and that includes Engineering, Projects, Drilling, Operations, Leadership and Business Strategies. Ms. Muna is known to be one of the first female technical engineers appointed as a Senior Vice President for Operations in ADNOC group, as well as being the first female to be selected as a board member in the Board of Directors at ADNOC Drilling (NDC) and Al Dhafra Petroleum Company, a Chairman at ADNOC Drilling Audit Committee, and a Board Advisory member at ADNOC LNG, Refining Company (Takreer), and ADNOC Main Tender Board. Furthermore, she was a member of the Steering Committee for the Gulf Cooperation Council NOC’s (Gulf National Oil Companies) for the Production Maintenance, as well as being an Executive committee member for Women Professionals in ADIPEC.
Hesham Zubari - Chief AI & Innovation Officer
Mr. Hesham Zubari graduated in Petroleum Engineering from the University of Texas at Austin in 1986 and a certified CTO and an alumnus of Cambridge. With 38 years in the oil, gas, and energy sectors, his career commenced as a reservoir simulation engineer at Bahrain Petroleum Company in 1986, leading to positions such as Deputy CEO at Tatweer Petroleum (2013) and Senior Advisor at the Ministry of Oil (2017). He is currently serving on the SPE-international BOD as the MENA Regional Director, currently chairing the SPE Middle East Council responsible for managing SPE focus topics and events in the region, and is a member of the SPE International Technical Content Committee. His experience includes working with top CEOs and ministers in Bahrain, authoring and co-authoring over 15 technical papers on innovation and the management of mature assets, and chairing major SPE and AAPG events. Zubari's insights have been highlighted in reputable publications such as Forbes and MEES, underscoring his influence on the future of the energy industry. He is the recipient of the 2021 SPE Regional Award for his contributions to the oil and gas community. In recognition for his contributions to the scientific community, Hesham was awarded the 2024 IMC Honorary Doctorate Leadership Excellence Award by the International Maritime Club (IMC) in association with the European International University.
Ali Rashid Al-Jarwan - CEO
Ali Rashid Al-Jarwan, Managing Director, Exploration & Production and CEO of Dragon Oil, was appointed in his capacity by the Dragon Board in March 2017. Al-Jarwan has more than 35 years of experience in the field of oil exploration and production and has held a number of senior management roles at Abu Dhabi National Oil Company (ADNOC) group of companies – Abu Dhabi Company for Onshore Oil Operations (ADCO), as well as Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO). Over the years, Al-Jarwan has received several industry honors, including the Society of Petroleum Engineers (SPE) distinguished membership, two innovation awards from BP Middle East, ADNOC’s 2010 Health, Safety, and Environment Man of the Year Award, and several SPE recognition awards – the latest being Honorable SPE Member. Al-Jarwan is the Founder and Chairman of Gas and Oil Technology Conference (GOTECH). He has also chaired several international conferences such as GEO in 2002, the 8th HSE International Conference in 2006, Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2006, 2008, and 2012 and the SPE Annual Technical Conference and Exhibition (ATCE) in 2022. Al-Jarwan holds a Bachelor of Science (BSc) degree in Petroleum Engineering from the University of Oklahoma in the United States. He is an associate of Cranfield School of Management in the United Kingdom, and International Institute for Management Development (IMD) in Switzerland. Mr. Ali Rashed Al-Jarwan has a strong background in both technical fields and leadership roles, with significant experience in oil and gas field development, project management, and operations. Since 2006, he has served as CEO of notable companies like Abu Dhabi Marine and Dragon Oil.
H.E. Saeed Mohammed Al Tayer - Chairman
His Excellency Saeed Mohammed Al Tayer serves as the Managing Director and Chief Executive Officer of Dubai Electricity and Water Authority (DEWA) PJSC since 1992. He has more than 35 years of experience in Dubai in the fields of telecommunications, energy and water. Under his leadership, DEWA group has achieved unprecedented success and is recognized today to be one of the most leading utilities world-wide.
In 2022, His Excellency Al Tayer steered both Empower and DEWA in their successful public listing, attracting overwhelming global demand. He is a Member of the Dubai Council, a member of the Dubai Executive Council and the Strategic Affairs Council, a member of the Dubai Supreme Fiscal Committee, Chairman of Emirates Central Cooling Systems Corporation PJSC (EMPOWER), Chairman of Dragon Oil Company, Vice Chairman of the board of directors of Emirates Global Aluminium, Chairman of Dubai Holding, Chairman of Oilfields Supply Center Limited, Chairman of Emirates National Oil Company, Chairman of World Green Economy Organisation (WGEO), and the Vice Chairman of the Dubai Supreme Council of Energy. His Excellency Al Tayer also holds various positions and director roles both within and outside of the Group.
His Excellency Al Tayer received a number of prestigious awards such as the “Middle East Champion of Energy” award received at the World Green Economy Summit 2015 from the United Nations Development Programme (UNDP). On 18 May 2016, the UNDP appointed His Excellency Al Tayer as "UNDP National Goodwill Ambassador for Sustainable Development Goals". In addition, the Swiss Business Council, Dubai & Northern Emirates, awarded His Excellency the prestigious “Lord of Matterhorn Award”. Moreover, His Excellency Al Tayer received an honorary doctorate from Amity University in Dubai in appreciation of his continuing innovative efforts to achieve excellence and enhance scientific knowledge and sustainability. His Excellency Al Tayer received the prestigious Honorary Fellowship from the Energy Institute, United Kingdom. Also, His Excellency Al Tayer received the Excellence and Creative Engineering Award in the Leading Personnel Category from the Society of Engineers - UAE.
H.E. Abdulrahman Al Saleh - Vice Chairman
His Excellency Abdulrahman Al Saleh is the Director General of the Government of Dubai's Department of Finance (DOF) since 2009. He is also member of the Executive Council of Dubai, and Dubai's Strategic Affairs Council, as well as a board member of Investment Corporation of Dubai (ICD).
His Excellency Al Saleh is a member of a number of highly esteemed boards, including Dubai's Supreme Fiscal Policy Committee, Dubai World, the Federal Tax Authority as well as the Emirates National Oil Company (ENOC). He is also the Chairman of the Rochester Institute of Technology, Dubai Board of Directors.
In a presidential decree issued in December 2018, His Excellency Al Saleh was appointed as Vice Chairman of the Board of Directors of the United Arab Emirates Central Bank.
Previously, H.E. DOF's Director General has held many leadership and financial positions in a number of government entities at the local and federal levels, including the Senior Executive Director for Financial and Administrative Affairs at Dubai Customs. He also chaired a number of committees, notably the VAT Committee at Dubai Customs. He also oversaw and participated in a number of other regulatory and strategic committees, including the Executive Credit Policy Committee and the Indirect Taxation Working Group.
His Excellency Al Saleh is a fellow member of the Chartered Institute of Management Accountants (CIMA) in the United Kingdom and holds an MBA degree from the American University of Sharjah.
Hussain Sultan Lootah - Board Member
Mr. Hussain Sultan Lootah is an accomplished and entrepreneurial senior-level executive with more than 30 years of experience in the Oil and Gas sector in the UAE. He recently became the Acting CEO of ENOC. Notably, he has had a long and successful career with ADNOC group of companies and his wealth of experience extends to both the upstream and downstream sectors. Mr. Lootah holds a Bachelor degree in Business Administration and Economics from New Hampshire College, UK, and a CPA from Montana University.
Qusai Al Shared - Board Member
Mr. Qusai Al Shared has 25 years experience in the energy industry. He has a BSc in electrical engineering from UAE university and an MBA from Heriot-Watt university with a particular focus on privatization and regulation. He held several executive positions in the Dubai Electricity and Water Authority, including power system operation, planning and projects, generation, and distribution. Since 2006 he has pursued an independent career, including working with the consultancy Green Energy and in the construction and real estate sectors as well as a tenure as an energy advisor for Dubai Municipality.
H.E. Dr. Abdulrahman Abdulmannan Al Awar - Board Member
His Excellency Dr. Abdulrahman Abdulmannan Al Awar has over 25 years of experience in senior executive positions in public and private sectors and across various industries including oil and gas, banking, Human Resources, and regulation of labour market.
The current Minister of Human Resources and Emiratisation previously held the position of Director General of the Federal Authority of Government Human Resources (FAHR) in 2009, as well as the Executive Vice President (EVP) of Business Development – New Smelters at Dubai Aluminum Company (DUBAL). He also served as the Director General of the National Human Resources Development & Employment Authority (TANMIA) and worked for Dolphin Energy, Dubai Petroleum and HSBC.
Apart from his role as Minister of Human Resources and Emiratisation, His Excellency Al Awar holds the following positions:
• Chancellor and Chairman of the Board of Trustees at the Higher Colleges of Technology
• Board Member of Emirates National Oil Company (ENOC)
• Board Member of Dragon Oil Holdings Limited (DOHL)
• Board Member of Oilfields Supply Center (OSC)
• Board Member of Emirati Talent Competitiveness Council (NAFIS )
• Board Member of Education and Human Resources Council
• Board Member of Emirates Competitiveness Council
• Board Member of Federal Demographic Council
• Board of Trustee of University of Dubai
His Excellency Al Awar had also served on the National Defense College Supreme Council and was a Member of the UAE Gender Balance Council. His Excellency Al Awar holds a Ph.D. in Geology and Geochemistry from Colorado School of Mines (CSM), USA, 1995.
H.E. Ahmad Buti Al Muhairbi - Board Member
His Excellency Ahmad Buti Al Muhairbi is the Secretary General of Dubai Supreme Council of Energy (DSCE). He joined the DSCE in December 2012. His Excellency Al Muhairbi holds a B.Sc. in Petroleum Engineering graduated from the University of Texas at Austin. Before joining DSCE, His Excellency Al Muhairbi worked for ADNOC, ARCO Dubai, Margham Dubai Establishment and Dubai Supply Authority.
With overall 32 years of experience in Oil & Gas, His Excellency Al Muhairbi used his comprehensive knowledge of well technology as well as his petroleum engineering education; he focused on operations, field development and drilling plans. He has gained experience in the management of gas storage for power generation in existing fields in the Emirate of Dubai. His Excellency Al Muhairbi is also a board member of Dubai Regulatory & Supervisory Bureau for Electricity & Water, Board of Directors of Dragon Oil and a board member at Emirates National Oil Company (ENOC), member of the board of Etihad ESCO and Vice Chairman of Steering Committee of Emirates Energy Award.
Ahmad Sharaf - Board Member
Education: B.Sc. and M.Sc. in Petroleum Engineering from the Colorado School of Mines and MBA from Duke University's Fuqua School of Business.
Mr. Ahmad Sharaf has worked both the international and North American upstream oil and gas industry for over 30 years, including with ConocoPhillips from 1989-2004, Dubai Holding (Dubai's leading sovereign conglomerate) in various leadership positions in the energy, healthcare, tourism and real estate sectors from 2005-2012 and presently is with the Dutco Group, one of the Middle East's most successful and largest family-owned conglomerates, leading its Energy division.
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Mr. Sharaf is the Chief Executive Officer of Dutco Energy, a division of the Dutco Group, dedicated to positioning and expanding the Group's global interests in the oil and gas sector.
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Mr. Sharaf is Chairman of the Dubai Mercantile Exchange (DME) and also chairs the DME's Compensation Committee.
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Mr. Sharaf is a Director of the Board of Emirates National Oil Company (ENOC) LLC and serves as Chairman of its Investment & Finance Committee and a Member of ENOC's Audit Committee.
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Mr. Sharaf is a Director at Dragon Oil Holdings Limited since 2007, where he also serves as Chairman of its Investment & Finance Committee and a Member of Dragon Oil's Audit Committee.
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He is also an active Member of Duke University Fuqua Business School's Board of Visitors.
The Gulf of Suez Contract Area covers approximately 1,288 km² and comprises four major offshore oil and gas fields, in addition to 41 Satellite smaller fields in water depths of between 20 and 80 metres.
DO first entered the Egyptian market in 2014 after the signature of its first 100% operatorship exploration agreement with the Ministry of Petroleum, represented by Ganoub El Wadi Petroleum Holding Company (GANOPE). Since then, Dragon Oil considered expanded its activities in the Egyptian energy market. In October 2019, Dragon Oil acquired Gulf of Suez assets with 100% working interest, previously held by BP and operated by the Gulf of Suez Petroleum Company (GUPCO), which is currently a 50:50 joint venture between Dragon Oil and Egyptian General Petroleum Corporation (EGPC).
DO achieved spectacular success to maintain GUPCO's production at the level of 59 MBD defying the natural decline through an integrated work program including drilling, wellwork activities, integrity management, New projects & ambitious renovation program for rotating machinery & pipelines.
In 2022, DO announced its first exploration discovery in the North East Ramadan concession. Later known as Al Wasl Field. The development of the Al Wasl Field is anticipated to contribute an additional 5,000 barrels of oil per day (BOPD). Furthermore, the joint development of the nearby field North Safa and Al Wasl fields is projected to achieve a plateau production rate of 15,000 BOPD. In December 2023, DO announced first oil production from North Safa field after the successful commissioning of new platform & Oil pipeline.
The Block-9 Contract Area is located south east of Iraq, 50 km north of Basra City, the contract area covers approximately 865 km² and comprises major onshore oil field, where Dragon Oil holds 30% working interest in Block-9 venture.
Dragon Oil made its initial entry into the Iraqi energy sector in 2013 after signature of Exploration, Development & Production Sharing Contract (EDPSC) for Block-9 in partnership with Egyptian General Petroleum Corporation (EGPC) & Kuwait Energy Basra Limited (KEBL).
(KEBL), a fully owned subsidiary of United Energy Group (UEG) holds 60% working interest, and is designated as Operator of the Block.
Early production testing started in April 2015 and commerciality was declared for Yamama Reservoirs in May 2019 after successfully drilling 7 wells. Oil was exported by trucks, with 15,000 BOPD production in 2019. A new 16” pipeline was installed by end of 2019, which facilitated the increase in production with drilling additional wells. Subsequent development & Appraisal activities confirmed extension of Three Giant reservoirs Yamama, Mishrif & Zubair.
In May 2024, DO & Partners celebrated the Commissioning of the first phase of Central Processing Facilities which allowed wramping up production for Al Faihaa Field to 100,000 BOPD.
Working in collaboration with partners, DO is actively progressing through the field development phase with an ambitious plan to achieve a production plateau of 200,000 barrels of oil equivalent per day (BOED) by 2029, which underscores DO’s commitment to expanding its footprint in Iraq and enhancing its contributions to the country’s energy sector. The development of Block-9 exemplifies DO’s focus on leveraging its technical expertise and strategic partnerships to drive significant growth and ensure long-term success in one of the region’s most promising oil markets.
CEO Message
Dear Colleagues, Partners and Stakeholders,
It is my pleasure to share with you the progress made by DO and my views on the near and long-term future of the company, underpinned by the strategic priorities set by the Board. Our mandate is to produce hydrocarbons oil and gas focusing on people, performance, profitability and efficiency, whilst maintaining the highest standards of safety, environment protection, and asset integrity.
The Production Sharing Agreement (PSA) for Cheleken Concession area in Turkmenistan was extended for a further 10 years to expire in 2035, which is a historical milestone in our journey towards our stainable future and reaffirms our commitment and responsibility as the sole operator of the Cheleken concession. This was achieved by maintaining very close collaboration and alignment with the State Concern “Turkmennebit” and we are thankful to the Turkmenistan government for their continuing confidence in Dragon Oil’s capability to deliver mutually beneficial results.
We are committed to maximizing value for both our Shareholders and the Host Governments. We do so by deploying state of the art technology and encouraging innovation to provide effective solutions for the various challenges and by adopting industry best practices. We invest in the organization’s capabilities that will be able to add value in every step of the exploration and production (E&P) cycle with agility in the ever-changing market. Innovation and effective cost management are considered key to our business continuity in both production and exploration. We collaborate with Host Governments, partners, contractors and suppliers to provide innovative solutions and to implement the industry’s standard in our operations in all work-sites in Turkmenistan, Egypt and Iraq.
We have constantly delivered our promise to our stakeholders, Dubai Government, the Dragon Board and Host Governments. Our ability to manage growth and unlock production potential, facilitated by an integrated team of professionals who strive for efficiency, effectiveness, and excellence, is reflected in our performance and balance sheet. At Dragon Oil, we are committed to our people by providing them the positive environment to be creative and proactive. We have built new production facilities in addition to inherited legacy infrastructure in Turkmenistan and will continue to improve its effectiveness through modifications to increase the benefits. The development plan of the recently discovered Al Wasl field in the Gulf of Suez, Egypt is under implementation, with a target to achieve commercial production.
In Block 9, Iraq, field development is in advance stage where oil and gas processing plant completed and commissioned to increase of 100 MBOD gross production oil and process the associated gas to extract liquids of 30,000 BOP in beginning of 2025 & supply of quality gas for industrial & domestic use. We will continue to ensure higher level of ethical conduct, transparency and to provide career development opportunities for all our employees. DO will continue to be a true strategic partner for all host countries , providing value added services that support growth and competitiveness in addition to contributing to the national economy of UAE and host countries. With the accumulated knowledge & skill in the areas of Technical, Operation, Financial and Talent Management, the company is primed to manage and mitigate all future challenges.
Ali Rashid Al-Jarwan
Managing Director, Exploration & Production and CEO of Dragon Oil
AGILITY
Adaptability
Proactively Managing Advancements In Technology, Such As AI, To Stay Ahead In A Dynamic
Environment
Innovative Thinking
Embracing A Flexible Mindset To Indentify Creative Solutions And Address Challenges Effectively For Full Potential
Seizing Opportunities
Being Quick To Recognize And Capitalize On Emerging Opportunities With Confidence
Efficiency
Balancing Priorities And Optimizing Time Management To Deliver Results Swiftly And Effectively
OWNERSHIP
Empowerment
Ownership Reflects Personal Authority And Recognition, Driving Confidence And Trust
Accountability
Embracing Responsibility For Outcomes, Ensuring Thoughtful And Reliable Results
Delivering Value
By Taking Full Responsibility, We Guarantee Meaningful And Impactful Results That Matter
Building Credibility
Responsibility Fosters A Reputation For Dependability, Becoming A Trusted Point Of Reference For Others
INTEGRITY
Building Trust
Trust Is The Foundation Of Success, And Through It Consistent And Ethical Actions Are Achieved
Empathy At The Core
Showing Kindness, And Understanding Others' Perspectives To Foster Genuine Connections
Ethics Beyond Transactions
All Interactions - Buying, Selling, Or Decision-making-go Beyond Compliance, Rooted In Ethical Principles
Personal Identity
Our Individual's Integrity Defines Who We Are And Shapes How Others Perceive Us
RESPECT
Culture & Diversity
Appreciate And Value Cultural Differences And Diverse Perspectives, Recognizing Them As Strengths That Enrich Our Performance
Celebrating Achievements
Recognize The Abilities, Qualities, And Accomplishments Of Others, Fostering Positivity And Motivation
Fostering Growth
Commitment To Continious Learning, Innovation And Progress, Enabling Personal And Collective Development
Honoring Rights
Uphold The Rights, Dignity, And Individuality Of Every Person, Ensuring Fairness And Equity In All Interactions
INNOVATION
Collaborative Synergy
Break Boundaries By Bringing Diverse Professional Expertise Together, Fostering Unique Perspectives For Better Outcomes
Unlock Potential
Acceleration Of Ability To Discover And Implement Solutions, Unlocking New Possibilities For Growth And Efficiency
Simple Ideas, Big Impact
Even Simple, Creative Solutions Can Lead To Significant Value - Thinking Differently Drives Real Transformation
Empowering Technology Partnerships
Partnering For Adaptable And Scalable Technology Ensures Impactful Deployment And Sustainable Growth
EXCELLENCE
Uncompromising Quality
Setting The Standards For Exceptional Quality For Our Work
Pursuit Of Perfection
Striving To Achieve Our Targets With Exceptional Precision And A Commitment To Near Perfection
Global Standards
Delivering Achievements That Align With The Best In The World
Mindset Of Growth
Embracing A Mindset For Continious Improvement And Excellence Pushes Boundaries And Surpasses Previous Achievements
EDUCATION
DO has demonstrated a strong commitment to education within the local communities. This includes a comprehensive support program for schools encompassing building renovations, classroom refurbishments, provision of computer equipment, a new roof, and an upgraded audio-visual system with uninterrupted power supply to maximize learning time. Furthermore, DO has refurbished kindergartens, undertaking façade renovations, installing outdoor lighting, and renovating key buildings, including kitchens. Additionally, the Company actively supports educational initiatives through sponsorships for various projects and by providing assistance to scientists, young researchers, and students via a trilateral agreement for cooperation between international oil and gas universities, State Concern and the Company. DO has established an annual scholarship program for high school graduates to pursue higher education at universities, with over 40 successful graduates and several students currently enrolled.
HEALTHCARE
DO has significantly contributed to improving healthcare access and quality within the communities where it operates. This includes the planned refurbishment of Intensive Care Unit, with upgrades to the building's infrastructure, facilities, and the introduction of new medical equipment. In the Maternity Hospital, mothers and newborns benefit from the provision of advanced neonatal medical equipment. Furthermore, the Company played a crucial role in the construction of a new out-patient polyclinics, designed in collaboration with State medical authorities. This modern facility, equipped with state-of-the-art medical equipment, significantly enhances healthcare services for the local population. Additionally, DO has sponsored and provided 25 ambulances to the Ministry of Health of Turkmenistan, supplied medical equipment for the Psychoneurological Hospital of the Balkan Region, and provided office and household appliances for the Rehabilitation Center for the Disabled people, further demonstrating its commitment to improving healthcare access and quality.
ENVIRONMENT & INFRASTRUCTURE
DO is committed to environmental sustainability and actively promotes this initiative in all locations where it operates. The company and a number of its employees are members of the National Nature Protection Society of Turkmenistan. Recognizing the importance of access to clean water, DO is building a 10,000 m3/day desalination plant utilizing advanced technology to provide a significant portion of the potable water supply to the residents of Hazar. Furthermore, the company continuously and actively participates in environmental initiatives such as clean-up campaigns and tree-planting programs, demonstrating its commitment to environmental stewardship.
SPORTS & ARTS
DO actively promotes a healthy and active lifestyle by supporting various sporting initiatives. This includes sponsoring the sports committees, inter-city student competitions, and providing sports equipment and team uniforms. The company has also initiated the annual “DO Cup” which includes professional basketball, football, arm-wrestling, table tennis, chess and volleyball competitions. In Ashgabat, DO supports the Special Olympics committee and various sports clubs to foster youth sports development. Notably, the Company sponsored Weightlifting Federation of Turkmenistan and assisted in conducting training camps prior to XXXII Summer Olympics Games in Paris. Furthermore, DO assists the national Paralympic Team by covering the costs of participation in several international sporting competitions. In the realm of arts and culture, DO supports classical music performances, the children's School of Arts, and various charitable initiatives. The company regularly invites prominent musical bands to perform in Hazar, providing an opportunity for local musicians to gain valuable experience and fostering a sense of community and cultural exchange.
CHARITY
DO demonstrates a strong commitment to supporting vulnerable members of the community. This includes providing support to the committed people (with special needs people), National Centre for the Special Olympics of Turkmenistan, assisting the public society in providing financial aid to individuals requiring costly medical treatment, and offering support to the Society of Blind and Deaf People. Furthermore, the company extends financial aid to various societies and organizations dedicated to assisting vulnerable population groups reflecting its dedication to social responsibility.
In 2023, DO undertook two significant infrastructure projects:
- Supply of materials and equipment for 110kV high-voltage transmission line from the city of Balkanabad to Hazar village.
- Construction of 10,000-cubic-meter desalination plant at Hazar village.
Company completed the concept design and scope of work and awarded a contract for supply of materials and equipment for 110kV high-voltage transmission line from the city of Balkanabad to Hazar village for a major project to a consortium consisting of a local and international contractor. We are pleased to report that the project was completed at the end of 2024.
At the same time, the company completed the concept design and scope of work and awarded a contract for construction of 10,000-cubic-meter desalination plant at Hazar village for a major project to a local contractor. The works under above contract are continuing and are planned to be finalized at the end of 2025, addressing critical water needs in the region. Beyond these major projects, DO continues to support local communities through the refurbishment of local schools and nurseries, and the sponsorship of sporting and cultural events in Hazar, Balkanabad, and Ashgabat. DO's social investments prioritize education, healthcare, and infrastructure development, recognizing these as key factors in improving the quality of life for local residents. This highlights the company's commitment to sustainable development and its proactive role in enhancing the social and economic well-being of the communities where it operates.
GOTECH is held under the patronage of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE), and is organised by Dragon Oil, a wholly owned oil exploration and production platform of the Dubai Government. The technical conference events are managed by the Society of Petroleum Engineers (SPE).
GOTECH, which started 2017, serves as a platform for decision makers, governments, operational authorities, manufacturers, service companies, consulting firms, academia, and research and development (R&D) centres to exchange ideas and raise awareness of current trends in the oil and gas industry. It also offers an opportunity for companies, governments, and investors to explore the latest advancements in oil and gas technology.
GOTECH aims to establish scientific approaches to cost management, maintain high competitiveness, achieve positive financial outcomes, and effectively navigate the challenges and changes facing the sector.
Dragon Oil Board has appointed Mr. Abdulkarim Al Maazmi as Acting CEO.
With over 40 years of leadership experience in the oil and gas sector, Mr. Al Maazmi brings deep industry expertise to guide Dragon Oil through its next phase of growth.
This appointment reflects our continued commitment to operational excellence, safety, sustainability, and expanding our global footprint in support of energy security and economic development. In addition to the Company’s initiatives on UAE nationalization and succession planning ensuring a robust and future ready leadership pipeline.
Dragon Oil proudly celebrates 25 years of production—a remarkable milestone that highlights the company's sustained commitment to excellence, innovation, and responsible energy development. Over the past quarter-century, Dragon Oil has grown from a pioneering venture into a respected player in the global energy sector, delivering consistent value while upholding the highest standards of safety and environmental stewardship. This anniversary not only reflects the hard work and dedication of its people but also marks a moment of pride and gratitude for the partnerships and communities that have supported its journey.
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