Middle East Economic Survey

VOL. LII

No 49

7-Dec-2009

UAE

ENOC Affirms Commitment To Dragon Oil Shares Purchase Despite Dubai Debt Crisis

Emirates National Oil Company (ENOC), in a statement posted on the Dragon Oil website on 2 December, expressed its commitment as a long-term majority shareholder in Dragon Oil, which operates Turkmenistans offshore Cheleken Contract Area. An independent committee of UAE-based Dragon Oil recommended in November that shareholders accept an offer put forward by...