Fareed Al Hashmi, Executive Director of Growth and Business Development at Emirati Dragon Oil, disclosed that the company is currently studying, in collaboration with the Egyptian Natural Gas Holding Company “EGAS”, opportunities in offshore areas in the Mediterranean Sea, focusing on shallow-depth gas resources that can be quickly connected to existing Egyptian infrastructure to supply the domestic market.
On the sidelines of his participation in the Mediterranean Offshore Conference and Exhibition (MOC 2026) at the Library of Alexandria, which was opened yesterday morning by Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, Al Hashmi emphasized that Egypt represents a pivotal country in the company's business, pointing to the success of its experience in increasing production and extending the productive life of fields in the Gulf of Suez.
He explained that the company saw its acquisition of BP’s assets in the Gulf of Suez Petroleum Company “GUPCO” as an opportunity to leverage its expertise, despite many regarding them as mature oil assets.
He added that it succeeded in increasing its production and extending the lifespan of the fields, which reflects the nature of Dragon Oil's operations and capabilities.
He noted that the company possesses operational capabilities in the Gulf of Suez and can leverage supply chains at ENOC and in Dubai to support this orientation.
He affirmed that Dragon Oil's participation in Alexandria aims to seek assets to which it can add value, as well as partners who adopt its philosophy in accelerating bringing production to the local market.
