Petronas, Dragon Oil partner on international upstream E&P

This collaboration aims to strengthen Petronas' presence in key oil and gas regions through strategic alliances with Dragon Oil, including projects in the Caspian Sea and the Gulf of Suez.
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Nov. 12, 2025
Courtesy Dragon Oil
Dragon Oil's Turkmenistan operations offshore Egypt

Dragon Oil says the Gulf of Suez Contract Area covers about 1,288 sq km and comprises four major offshore oil and gas fields, in addition to 41 satellite smaller fields in water depths of between 20 m and 80 m.

Petronas subsidiary PETRONAS Carigali International Ventures has signed a memorandum of understanding with ENC subsidiary Dragon Oil (International) concerning an international upstream oil and gas exploration and production (E&P) collaboration. 

Dragon Oil operates the producing Cheleken concession in the Turkmenistan sector of the Caspian Sea. It is also a partner with EGPC in the GUPCO joint venture, which operates the Gulf of Suez Contract Area offshore Egypt, containing four large oil and gas fields.

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