- The participation represents a key part of the company’s strategies to reinforce its presence in Egypt.
- Dragon Oil aspires to reach production rates of 65,000-70,000 barrels per day this year.
Dubai, February 12, 2022: Dragon Oil, an upstream exploration and production platform fully-owned by Dubai’s Government, will participate in the 5th edition of the Egypt Petroleum Show (EGYPS-2022) held under the patronage of His Excellency Abdel Fattah El Sisi, President of the Arab Republic of Egypt, during February 14-16, 2022 at the Egypt International Exhibition Center with the support of the Ministry of Petroleum and Mineral Resources-Egypt.
Ali Rashid Al Jarwan, CEO of Dragon Oil, may participate with a working paper within the activities of the conference and exhibition, which will be held this year under the slogan “North Africa and the Mediterranean: Meeting Today’s Energy Needs”. The event represents a starting point for an effective strategic dialogue to shape a roadmap for the oil and gas sector to ensure a sustainable future. It also serves as an important opportunity for the sector experts to exchange ideas and visions to achieve a more comprehensive ecosystem that considers the current social and environmental standards.
The Egyps-22 also comes at a critical time to discuss the challenges facing the energy sector and its strategic opportunities ahead the “2022 United Nations Climate Change Conference” (COP27), which will be held in Sharm El-Sheikh, Egypt, and to discuss the effects of the policy shift and change in demand dynamics. In addition, it will highlight the development of technology aimed at curbing carbon emissions using technologies such as carbon capture and storage and hydrogen production.
“This is the Dragon Oil's third participation in (EGYPS), confirming the strength of its commitment to strengthening our firm presence in Egypt,” Badria Ahmed Khalfan, Chief Human Resources Officer at Dragon Oil said.
Khalfan explained that the Egyps-22 would witness over 3 days a wide participation of more than 40 national and international oil, energy and service companies, along with many ministers of energy and petroleum from several countries, CEOs and Secretary-Generals of international petroleum organizations and institutions.
“The event is a good opportunity to exchange opinions and technical expertise, and to explore the cutting-edge technologies applied in the global oil and gas industry, through technical sessions to be organized within its activities,” she added.
Khalfan continued, “Dragon Oil is working to continue its growth and expansion in the Egyptian market in 2022 through intensifying the exploration, development of fields and reparation of wells to increase the production from the oil fields in Gulf of Suez. The company aims to reach production rates of 65,000-70,000 barrels per day, compared to an average of 60,000 per day in 2021.”
Dragon Oil, two years ago, completed acquisition of BP’s Gulf of Suez assets, where (GUPCO) undertakes exploration and production operations in the area. The company was able to drill new wells in Egypt, showing very positive results, so it seeks to raise the daily production, as its financial solvency allows for further expansion and exploration in several regions.
“Recently, the company was able to carry out AI techniques-based innovative plans in exploration, drilling and production operations in Egypt, to become the first company to apply these technologies,” Badria Khalfan added.