Dubai-headquartered Dragon Oil plans to increase output at a time when others are slashing theirs. The company, which is majority owned by Enoc, has quite a number of targets including restructuring and venturing into acquisitions, again at a time when most upstream players are quietly watching the market.
In an interview with Emirates Business, Dr Abdul Jaleel Khalifa, CEO and Executive Director of Dragon Oil, said: "I believe the current economic environment is right for investing in infrastructure considering the fact that there are surplus capacities available in the backdrop of lower commodity prices."
Khalifa – who was the first president of the International Society of Petroleum Engineers to be appointed from the Asia/Africa region – has talked about a variety of pressing issues, including Dragon Oil's ongoing probe on contracts irregularities, hedging policy, production and acquisition plans and its adoption of a Bermuda incorporation.
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