Dragon Oil Company, affiliated with the Government of Dubai, held its annual brainstorming session, which  centred on reviewing the company's strategic objectives during the current and next year, while discussing future plans in line with developments in the world's oil market.

 

The session held at Bab Al Shams Hotel in Dubai was attended by the company’s senior officials and top directors, led by CEO Ali Rashid Al Jarwan.

 

The attendees, representing various departments, focused on the need to keep up with oil prices, which the company expected to be between $75 and $85 per barrel during the next year, reported Wam.

 

They also discussed the company’s strategy regarding sustainable development goals and exploiting all efforts and energies to reach the goals of climate neutrality by the year 2050, and the company’s plans on the subject of sustainability and what can be done to implement the provisions of the Charter to remove carbon from the oil and gas industry, which is the pledge that Dragon Oil signed during COP28 by more than 50 international companies active in the oil and gas industry.

 

The attendees discussed promising plans and opportunities in the field of sustainability to improve performance and preserve the environment. 

 

Dragon Oil will present many initiatives aimed at reducing emissions, such as using solar energy, stopping gas burning, and afforestation initiatives to reach climate neutrality by 2050, said Al Jarwan.

 

"Every year, Dragon Oil holds such brainstorming sessions to review and discuss the strategic plan for the current year and next year. This year we have about 17 managers and experts taking part," he stated.

 

"During the meeting, we focused on three main points: production and how to improve it throughout the year, and the second point relates to favourable opportunities in the market to develop the Company’s work through acquisitions and new contracts," he noted.

 

Al Jarwan said he expected the prices would maintain good levels during the next year, between $75 and $85 per barrel, with price fluctuations within the price difference based on seasons and demand.