Dragon Oil expands investments in Egypt
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, emphasised his country's commitment to strengthening partnerships with UAE companies in the energy sector, praising Dragon Oil's investments and its role in supporting oil and gas production.
His remarks came during a meeting with Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy and Board Member of Dragon Oil, after the Egypt Energy Show (EGYPS 2025).
Al Muhairbi emphasised Dragon Oil's commitment to expanding its investments in Egypt, noting that the company has invested more than $500 million over the past five years, with plans to increase production in the Gulf of Suez region.
Ali Rashid Al Jarwan, CEO of Dragon Oil, stressed the importance of adopting Artificial Intelligence (AI) solutions to enhance operational efficiency, while focusing on developing human resources to ensure sustainable development.
Al Jarwan, during his meetings with Egyptian President Abdel Fattah El-Sisi, announced the company's achievements over the past five years, highlighting Dragon Oil's growth as a technology- and innovation-driven entity in the oil sector.
He added that Dragon Oil successfully drilled 13 wells and carried out rapid intervention operations on 350 wells to maintain production levels. The company also signed an agreement with the Minister of Petroleum during ADIPEC 2024 last year, focusing on research and development for the 'Al Wasl' field, known as 'North Safa,' which contributed an additional 8,000 barrels per day to production.
Al Jarwan further noted that the company's production has now reached 60,000 barrels per day. It has implemented AI technologies in two fields and is currently working to digitise all operational processes.
He reaffirmed that Dragon Oil remains committed to its expansion strategy to support Egypt's energy sector and enhance production sustainability.
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