At the International Oil and Gas Conference of Turkmenistan (OGT 2026) in Ashgabat, senior executives from leading United Arab Emirates energy companies—ADNOC and Dragon Oil—underscored their commitment to expanding long-term investments, deepening infrastructure collaboration, and unlocking the country’s vast hydrocarbon potential.
ADNOC
The energy cooperation between the UAE and Turkmenistan has entered a new strategic phase, transitioning from long-standing dialogue into direct investments.
As Abdulla Al Shamsi, Senior Vice President, International Gas, Business Development, XRG (ADNOC), highlighted, the company’s participation in the offshore Block 1 gas and condensate field serves as a compelling model of regional connectivity and international cooperation, bringing together Turkmenistan’s resources with long-term commitments from UAE and Malaysian partners.
“This progress reflects the strength of our relationships in Turkmenistan, our confidence in Turkmenistan’s energy future, and our shared commitment to creating lasting value,” stated Abdulla Al Shamsi.
“By combining local knowledge, international expertise, responsible investment, and access to established infrastructure and markets, this partnership demonstrates how cross-border collaboration can create shared value, and we are looking forward to doing a lot more in Turkmenistan, working on many other cross projects”, he said.
Al-Shamsi reaffirmed that Turkmenistan is central to company’s growth strategy because it combines a world-class resource base, a strategic position in the Caspian region, and significant potential for long-term growth.
He also stressed that together with trusted national and international partners, the XRG can help connect these resources to infrastructure and buyers and markets, and strengthening the resilience and diversity of company’s global portfolio with supporting Turkmenistan’s energy ambitions.
Expanding on this vision, Bassem Tadros, Senior Vice President, International Gas, Asset Management- XRG, (ADNOC), emphasized that Turkmenistan occupies a central role in the company’s global gas portfolio and growth strategy.
Elaborating on the company’s approach to partnership, he emphasized that ADNOC acts “with the greatest respect for Turkmenistan’s priorities and for the national institution guiding the energy future, because energy cooperation succeeds and only succeeds when all partners are moving in the same direction.”
“Turkmenistan’s greatest strength, I agree, it could be resources, but we believe the greatest strength is its own capabilities, the knowledge of its institutions, the experience of its professionals, and the aspirations of its people,” noted Bassem Tadros.
He stressed that ADNOC will continue to invest with discipline and commitment to support a prosperous, secure, and reliable energy future for the nation.
Dragon Oil
Dragon Oil, a wholly-owned subsidiary of Dubai’s ENOC, has served as a cornerstone investor in Turkmenistan’s energy sector for over two decades. Chief Executive Officer Abdulkarim Al-Maazmi recalled that Dragon Oil’s journey in the country began in May 2000 with the development of the Cheleken contract area in the Caspian Sea.
Over 26 years of operations, historical investments have approached $20 billion, with cumulative oil production exceeding 490 million barrels.
“The relationship between the United Arab Emirates and Turkmenistan provides a strong foundation for this cooperation. In 2025, bilateral trade reached US $ 1.7 billion, positioning the UAE as one of Turkmenistan’s leading trading partners”, stated Abdulkarim Al-Maazmi.
The company maintains a heavy focus on human capital and social responsibility, employing approximately 2,200 people locally, with Turkmen nationals representing 87% of the workforce.
Additionally, Dragon Oil has supported over 200 corporate social responsibility projects across healthcare, education, culture, and community development.
Dragon Oil continues to invest in innovation and operational efficiency through advanced technology, including AI-driven marine fleet optimization, predictive maintenance, drone inspection, and modern well integration.
While its current Production Sharing Agreement extends to 2035, the company’s ambitions go well beyond that timeframe.
“We see significant opportunities to develop additional resources, enhanced recovery, modernize infrastructure, and extend the productive life of our existing fields. […] Our objective is not simply to maintain our presence, but to build on more than 26 years of shared achievement and create greater value for Turkmenistan and Dragon Oil in the decades to come,” concluded Abdulkarim Al-Maazmi.
***
Taken together, the statements from ADNOC/XRG and Dragon Oil show that UAE energy companies see Turkmenistan as a long-term strategic market rather than a short-term opportunity. While ADNOC is expanding its footprint through Block 1 and a growing presence in Ashgabat, Dragon Oil is already looking beyond 2035 and seeking to extend its partnership with the government and Turkmen Oil. Both companies stressed local capabilities, disciplined investment and mutual benefit, signalling that the UAE–Turkmenistan energy relationship is set to deepen in the years ahead. ///nCa, 21 October 2026