Enoc has its hands full integrating recent acquisition Dragon Oil and expanding its Jebel Ali condensate splitter plant. The upshot is that the firm’s key mantra for now is consolidation.
The 2015 acquisition of Dragon Oil fulfilled Enoc’s long-held aim of becoming a fully integrated oil company. Enoc has typically been primarily a refiner, through the 140,000 b/d Jebel Ali plant, and fuel retailer. But Dragon Oil’s two producing assets provide it with gross production of around 114,000 b/d, of which 96% comes from Turkmenistan’s Cheleken field (see table). (CONTINUED - 894 WORDS)