Turkmenistan and the United Arab Emirates discussed prospects for deepening cooperation in the oil and gas sector. This was reported by the online publication ‘Business Turkmenistan’.

The topic of expanding cooperation was central to the meeting between the State Minister of Turkmenistan, Chairman of the State Concern ‘Türkmengaz’ Maksat Babayev, and the Ambassador Extraordinary and Plenipotentiary of the UAE to Turkmenistan Ahmed Alhay Hamad Khamis Alhameli.

Although diplomatic relations between the countries were established in 1995, practical energy partnership developed in the early 2000s. It was then that ‘Dragon Oil’ began operating in Turkmenistan under a production sharing agreement.

In addition, the State Concern ‘Türkmennebit’ and ‘Dragon Oil (Turkmenistan) Ltd.’ extended the production sharing agreement, with the contract now valid until 1 May 2035.