Ashgabat: UAE’s Dragon Oil has embarked on a new venture by incorporating artificial intelligence (AI) to revolutionize exploration, data processing, and analysis of reservoir properties within Turkmenistan’s oil fields, according to Ali Rashid Al-Jarwan, Managing Director of Exploration and Production and CEO of Dragon Oil, as reported by Trend via SNG.Today.

According to Trend News Agency, some of these advanced technologies, including 3D seismic exploration, have already been deployed on the Cheleken block and the adjoining Block 19. Over a collaboration that spans more than three decades, Dragon Oil has significantly contributed to the production and development of about 450 million barrels of oil in Turkmenistan. This longstanding partnership underscores the mutually beneficial relationship between Dragon Oil and Turkmenistan.

The continued partnership and the emphasis on technological advancements solidify Dragon Oil’s status as a pivotal entity in Turkmenistan’s energy landscape. Furthermore, Dragon
Oil’s CEO expressed appreciation to Turkmenistan’s President, Serdar Berdimuhamedov, following a productive meeting in August 2024 with Dragon Oil Chairman Saeed Al Tayer. The discussions centered on the further development of Dragon Oil’s ties with Turkmenistan, particularly through joint initiatives with the Turkmennbit State Concern aimed at enhancing oil recovery. Dragon Oil is eager to strengthen its collaboration with the Turkmen government, foreseeing significant potential for future joint ventures.

Turkmenistan, with over 71 billion tons of oil equivalent in hydrocarbon resources, including more than 50 trillion cubic meters of natural gas, ranks among the top four nations globally in proven natural gas reserves, alongside Russia, Iran, and Qatar. These resources establish Turkmenistan as a prominent force in the Asian energy market.