‘Dragon Oil’ has been operating in Turkmenistan for over 26 years and is the operator of the Cheleken concession area in the Turkmen sector of the Caspian Sea. The Production Sharing Agreement has been extended until 2035, according to the news agency ‘Turkmenistan: Golden age’.

The company began operations at Cheleken on 1 May 2000. The concession area, covering approximately 950 square kilometres, includes the Jeytun and Jygalybeg offshore fields, located some 45 km from the Turkmen coast.

Over the years, ‘Dragon Oil’ has established offshore and onshore infrastructure for the production, processing, storage and export of oil. The company also continues to carry out geological exploration work near its existing facilities.

The ten-year extension of the agreement was agreed upon with the participation of the State Concern ‘Türkmennebit’. The new term allows for the planning of further production, geological exploration and infrastructure development at Cheleken.

‘Dragon Oil’ is a Diamond Partner of the 31st International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2026’ (OGT 2026). Topics at the event include the development of resources in the Turkmen sector of the Caspian Sea, geological exploration, drilling technologies, offshore infrastructure and investment opportunities.