Dragon Oil, wholly owned by Dubai government, is considering three new investment opportunities in Egypt, Asharq News reported, citing the company’s acting CEO Abdulkarim al-Mazmi. Dragon Oil CEO Ali Al-Jarwan said in an interview with Asharq News earlier in February that the company is exploring further opportunities in Egypt’s oil sector as its outstanding receivables from the government have significantly decreased. He added that the company is committed to investing $500 million in Egypt by 2025 for its operating and capital budget. Production increaseThe company is pursuing a strategy aimed at reaching a production level of 200,000 barrels per day by 2030. According to Al-Mazmi, its total investment budget across the three countries where it operates—Turkmenistan, Iraq, and Egypt—amounts to approximately $1.6 billion.

Source: Egypt Independent April 01, 2026 09:43 UTC