Dragon Oil, a wholly owned subsidiary of the Emirates National Oil Company (ENOC) – Government of Dubai, has signed a Memorandum of Understanding (MoU) with Malaysia’s Petronas, represented by its subsidiary Petronas Carigali International Ventures (PCIV), aimed at enhancing cooperation in the field of oil and gas exploration and production, and fostering the exchange of technical expertise across the upstream sector.

The signing of the MoU is consistent with Dragon Oil’s global growth strategy, which seeks to broaden the company’s exploration and enhance the production portfolio, reported WAM.

The MoU signals the beginning of a potential strategic partnership and aims to explore new areas of technical and commercial collaboration between both parties and identify potential opportunities for future joint projects within the energy sector.

As the main crude oil producer in Turkmenistan and a long-standing strategic partner of the Turkmen Government for over 25 years, Dragon Oil continues to reinforce its international presence and pursue growth opportunities in key energy markets.

Abdulkarim Al Mazmi, Chief Executive Officer of Dragon Oil, said, “This strategic partnership reflects Dragon Oil’s commitment to strengthening its collaboration with leading international energy companies such as Petronas. We recognise Petronas for its extensive global expertise and advanced capabilities in the exploration and production sector.

“By working together, we aim to create synergies that will support both organisations in developing efficient, high-quality projects and achieving shared objectives.”

He added, "This MoU also aligns with our broader vision to expand Dragon Oil’s global footprint and build long-term partnerships that drive sustainable growth.”

The MoU was signed by Fareed Al Hashmi, Chief Growth Officer of Dragon Oil, and Azahari Mohd Shuid, Senior General Manager of Strategy and Commercial at Petronas, in the presence of Abdulkarim Al Mazmi, CEO of Dragon Oil, and Mohd Jukris Abdul Wahab, Executive Vice President and CEO Upstream at Petronas.