Dragon Oil intends to invest at least $8 billion in Turkmenistan in the next 15 years
New reforms of Turkmenistan, modernization of national legislation contribute to a significant expansion of investment cooperation with the country, as investors, first of all, consider the return on investment, and also think about the transfer of intellectual assets. This was stated by Deputy Chairman of the Executive Council of Dubai Ahmed bin Saeed Al Maktoum, speaking at the plenary session of the Oil and Gas Investment Forum of Turkmenistan.
He noted that important steps have recently been taken in this area to develop business and its efficiency, and significant improvements in creating a favorable business environment in Turkmenistan have contributed to the intensification of contacts.
"For more than 23 years of joint work, Dragon Oil has invested over $8 billion in the project to develop oil fields in Turkmenistan, and is ready to invest at least as much in the next 15 years," Ahmed bin Saeed Al Maktoum said.
One of the areas where Arab business can be most active, he called the transformation of the energy sector and support for the initiative of the Government of Turkmenistan in the transition to renewable energy sources, noting the UAE's extensive experience in the application of solar, nuclear, hydrogen and other alternative energy models.
Al Maktoum spoke in favor of expanding cooperation, including through the transfer of knowledge and experience, increasing the openness of the Turkmen market for foreign investors.
In conclusion, he added that he would like to come to Turkmenistan with his family, to Avaza – "a great place for tourism, for activities."
ORIENT news
