Latest news with #ADIPEC2024
Zawya
20-02-2025
- Business
- Zawya
Dragon Oil expands investments in Egypt
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, emphasised his country's commitment to strengthening partnerships with UAE companies in the energy sector, praising Dragon Oil's investments and its role in supporting oil and gas production. His remarks came during a meeting with Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy and Board Member of Dragon Oil, after the Egypt Energy Show (EGYPS 2025). Al Muhairbi emphasised Dragon Oil's commitment to expanding its investments in Egypt, noting that the company has invested more than $500 million over the past five years, with plans to increase production in the Gulf of Suez region. Ali Rashid Al Jarwan, CEO of Dragon Oil, stressed the importance of adopting Artificial Intelligence (AI) solutions to enhance operational efficiency, while focusing on developing human resources to ensure sustainable development. Al Jarwan, during his meetings with Egyptian President Abdel Fattah El-Sisi, announced the company's achievements over the past five years, highlighting Dragon Oil's growth as a technology- and innovation-driven entity in the oil sector. He added that Dragon Oil successfully drilled 13 wells and carried out rapid intervention operations on 350 wells to maintain production levels. The company also signed an agreement with the Minister of Petroleum during ADIPEC 2024 last year, focusing on research and development for the 'Al Wasl' field, known as 'North Safa,' which contributed an additional 8,000 barrels per day to production. Al Jarwan further noted that the company's production has now reached 60,000 barrels per day. It has implemented AI technologies in two fields and is currently working to digitise all operational processes. He reaffirmed that Dragon Oil remains committed to its expansion strategy to support Egypt's energy sector and enhance production sustainability.
Hi Dubai
20-02-2025
- Business
- Hi Dubai
Egypt Strengthens Energy Ties with UAE's Dragon Oil
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, reaffirmed the country's commitment to enhancing partnerships with UAE-based energy firms, highlighting Dragon Oil's pivotal role in boosting oil and gas production. Speaking after the Egypt Energy Show (EGYPS 2025), Badawi met with Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy and Dragon Oil Board Member, who reiterated the company's dedication to expanding investments in Egypt. Over the past five years, Dragon Oil has invested over $500 million, with plans to further increase production in the Gulf of Suez region. Ali Rashid Al Jarwan, CEO of Dragon Oil, underscored the importance of Artificial Intelligence (AI) in enhancing operational efficiency and emphasized the company's commitment to workforce development for long-term sustainability. During discussions with Egyptian President Abdel Fattah El-Sisi, Al Jarwan highlighted Dragon Oil's achievements, positioning it as a technology-driven entity in the oil sector. Dragon Oil has successfully drilled 13 wells and conducted rapid intervention operations on 350 wells to maintain production levels. The company's agreement with the Egyptian Ministry of Petroleum, signed during ADIPEC 2024, focused on research and development in the 'Al Wasl' field (North Safa), adding 8,000 barrels per day to production. Currently, Dragon Oil produces 60,000 barrels per day and has implemented AI technologies in two fields, with ongoing efforts to digitize all operations. Al Jarwan reaffirmed the company's commitment to expansion, aiming to support Egypt's energy sector and ensure production sustainability. News Source: Emirates News Agency
