Dragon Oil Extends Turkmenistan Production Partnership in $1B Deal

Dubai-based Dragon Oil signed a $1 billion deal to resume its manufacturing partnership in Turkmenistan with state-owned Turkmen Oil for 10 years after the present contract expires in Might 2025, the United Arab Emirates state information company WAM mentioned on Monday.

Of the whole worth, $500 million can be paid in money whereas the remaining $500 million can be paid over 13 years.

(Reuters – Reporting by Moataz Mohamed; Enhancing by Paul Simao)