A top official from Dubai-headquartered Dragon Oil has denied speculations that Enoc – its majority shareholder – is planning to sell some of its stakes.
"I am not aware of any move by Enoc to dispose of its stake," Abdul Jaleel Khalifa, CEO and Executive Director of Dragon Oil, told Emirates Business. "Indeed, we are proud of having Enoc as a majority shareholder that enables us to leverage the strong relationship between the UAE and Turkmenistan. Enoc's support has played a key role in positioning Dragon Oil in where it is today."
He said the company is planning to adopt a Bermuda incorporation this year, Dragon Oil would remain headquartered in Dubai.
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