Cairo: Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, highlighted the country's dedication to fostering partnerships with UAE companies in the energy sector, particularly praising Dragon Oil's investments and its contribution to bolstering oil and gas production.
According to Emirates News Agency, Badawi's remarks were made during a meeting with Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy and Board Member of Dragon Oil, following the Egypt Energy Show (EGYPS 2025). Al Muhairbi reiterated Dragon Oil's commitment to expanding its investments in Egypt, revealing that the company has invested over $500 million in the past five years and plans to boost production in the Gulf of Suez region.
Ali Rashid Al Jarwan, CEO of Dragon Oil, emphasized the significance of integrating Artificial Intelligence (AI) solutions to improve operational efficiency while developing human resources for sustainable growth. During his discussions with Egyptian President Abdel Fattah El-Sisi, Al Jarwan outlined the company's accomplishments over the past five years, showcasing Dragon Oil's evolution as a technology- and innovation-driven entity within the oil sector.
Al Jarwan also mentioned that Dragon Oil had successfully drilled 13 wells and conducted rapid intervention operations on 350 wells to maintain production levels. The company signed an agreement with the Minister of Petroleum during ADIPEC 2024, focusing on research and development for the 'Al Wasl' field, also known as 'North Safa,' which has contributed an additional 8,000 barrels per day to production.
Furthermore, Al Jarwan noted that Dragon Oil's production has now reached 60,000 barrels per day. The company has implemented AI technologies in two fields and is in the process of digitising all operational processes. He reaffirmed Dragon Oil's commitment to its expansion strategy to support Egypt's energy sector and enhance production sustainability.