{"id":107759,"date":"2025-09-23T00:00:00","date_gmt":"2025-09-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dragon-oil-expands-iraqi-footprint-with-new-agreements\/"},"modified":"2025-09-23T00:00:00","modified_gmt":"2025-09-23T00:00:00","slug":"dragon-oil-expands-iraqi-footprint-with-new-agreements","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/23\/dragon-oil-expands-iraqi-footprint-with-new-agreements\/","title":{"rendered":"Dragon Oil expands Iraqi footprint with new agreements"},"content":{"rendered":"<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>mirates National Oil Company\u2019s subsidiary Dragon Oil has inked multiple agreem<\/strong><strong>ents with players in Iraq\u2019s oil sector to expand its presence in the country<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/lnkd.in\/p\/ergScbBs\" style=\"\" rel=\"noopener\">statement<\/a>. The agreements include an MoU with China\u2019s Anton Oilfield Services and Iraq\u2019s Nohadh Al-Benaa for General Trading &amp; Oilfield Contracting Services. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">That\u2019s not all:<\/strong><span style=\"background-color: transparent;\"> The company also inked an MoU with Sohol Al-Salam Oil Services, part of Iraq\u2019s Al-Amal Group, to explore projects in oilfield development and services last month, <\/span><a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/15qs9nr-dragon-oil-iraq%E2%80%99s-al-amal-group-boost-oil-and-gas\" rel=\"noopener\">Wam<\/a><span style=\"background-color: transparent;\"> reported. The cooperation covers technical services, engineering, procurement, construction, and operational support, with scope for joint investments in Iraq\u2019s oil and gas sector.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Dragon Oil has been in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/b457fc31-b3bf-442f-83e1-48860f857967\/\" style=\"\" rel=\"noopener\">discussions<\/a> with the governments of Egypt, Iraq, and Turkmenistan to begin operating new oil fields within four years as a part of the company\u2019s strategy to grow its daily production to 300k bbl \/ d by 2026 and reach <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1ece1565-0c5b-4100-b2f2-1d2bcdfaf4b2\/this-morning:-dae-settles-with-axa-over-jets-in-russia%3F-%2B%253cmark%253e-dragon-oil%253c%2Fmark%253e,-enoc-eye-expansions\" style=\"\" rel=\"noopener\">450k bbl\/d by 2029<\/a>.<\/p>\n<p class=\"tag-border-left\">AVIATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The <\/strong><strong>UAE <\/strong><strong>and Egypt inked five MoUs to boost collaboration in the aviation sec<\/strong><strong>tor<\/strong>, the Egyptian cabinet said in a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1DR4GG1s2Z\/\" style=\"\" rel=\"noopener\">statement<\/a>. Here\u2019s a rundown of the agreements:<\/p>\n<ul>\n<li>Abu Dhabi\u2019s Royal Jet signed an MoU with Egyptian Airports to develop <strong>private aviation facilities<\/strong> at Egypt\u2019s New Administrative Capital Airport, along with local private aviation training;<\/li>\n<li>Abu Dhabi-based MRO firm <a target=\"_blank\" href=\"https:\/\/gal.ae\/\" style=\"\" rel=\"noopener\">Global Aerospace Logistics<\/a> signed an MoU with <a target=\"_blank\" href=\"http:\/\/linkedin.com\/company\/egyptair-maintenance-and-engineering\" style=\"\" rel=\"noopener\">EgyptAir Maintenance and Engineering<\/a> to enhance logistics services and <strong>supply spare parts<\/strong> for airports and airlines. The two will also look to establish a regional spare parts hub in Egypt to serve local, regional, and international markets;<\/li>\n<li>Abu Dhabi-based cargo carrier <a target=\"_blank\" href=\"https:\/\/www.maximus-air.com\/\" style=\"\" rel=\"noopener\">Maximus Air Cargo<\/a> inked an MoU with <a target=\"_blank\" href=\"http:\/\/egyptair-cargo.com\/home.htm\" style=\"\" rel=\"noopener\">EgyptAir Cargo<\/a> to launch <strong>new cargo routes<\/strong> and develop a new integrated logistics system;<\/li>\n<li>Etihad Engineering inked an MoU with EgyptAir Maintenance and Engineering to enhance <strong>techn<\/strong><strong>ical cooperation<\/strong>, boost knowledge transfer, and improve the regional MRO supply chain;<\/li>\n<li><strong>E<\/strong><strong>gyptAir Training Academy and Abu Dhabi Aviation Training Center <\/strong>also agreed to develop technical training programs for EgyptAir staff.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">INS.- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fitch upgrades Union Ins.:<\/strong> Fitch Ratings raised Union Ins.\u2019s Insurer Financial Strength rating to BBB+ from BBB with a stable outlook, citing stronger profitability and solvency, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/1305.pdf\" style=\"\" rel=\"noopener\">ADX disclosure (pdf)<\/a>. Union posted a bottom line of AED 23 mn in 1H 2025, up from AED 13 mn a year earlier, helped by <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/96bada69-acf2-4cba-bd4d-56bcf1b095f4\/in-full-swing%25e2%2580%25a6\" style=\"\" rel=\"noopener\">exiting unprofitable business lines<\/a> in 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Union trimmed its capital by 30.5% to AED 230 mn <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/5b6ad104-069c-4f74-b5a5-cf73ffde6960\/institutional-appetite-for-btc-picks-up\" style=\"\" rel=\"noopener\">in June<\/a> to erase AED 142.7 mn in accumulated losses. The move involved canceling 100.94 mn shares, with part of the losses offset through reserves.<\/p>\n<p class=\"tag-border-left\">AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Habtoor <\/strong><strong>+ India\u2019s JBM to roll out e-buses: <\/strong>UAE automotive distributor Al Habtoor Motors is partnering with India\u2019s JBM Electric Vehicles to introduce next-generation electric buses to the UAE market, according to a <a target=\"_blank\" href=\"https:\/\/habtoormotors.com\/al-habtoor-motors-and-jbm-electric-vehicles-forge-strategic-partnership-to-drive-e-mobility-in-the-uae\/\" style=\"\" rel=\"noopener\">press release<\/a>. The electric buses are set to be used on urban city routes, school and staff transport, and intercity travel. Al Habtoor Motors will serve as the primary importer and distributor of JBM buses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first green bus investment: <\/strong>Dubai\u2019s Roads and Transport Authority inked an agreement with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/88e176ab-4b38-460f-8572-214070e4854f\/desalination-and-green-mobility-updates-from-uae-and-saudi\" style=\"\" rel=\"noopener\">Swaidan Trading Co.<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/46a72b9a-548f-4770-b893-6a0aa4810190\/dubai%25e2%2580%2599s-rta-taps-four-major-players-for-637-buses\" style=\"\" rel=\"noopener\">China\u2019s Zhongton Bus Co.<\/a> for green buses, while <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/cf3b3a45-f497-45e0-9dfe-0ae802c21d7c\/abu-dhabi-to-get-hydrogen-powered-buses-next-month%3F-%2B-dubai-claimed-the-ninth-spot-on-lloyd%25e2%2580%2599s-list%25e2%2580%2599s-top-100-ports-list\" style=\"\" rel=\"noopener\">Abu Dhabi bus routes<\/a> are set to integrate electric and hydrogen-powered buses.<\/p>\n<p class=\"tag-border-left\">REAL ESTATE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bhatia\u2019s Sol to build AED 2.2. Bn project in Dubai: <\/strong>Sol Properties \u2014 Bhatia Group\u2019s premier real estate arm \u2014 has launched Sol Luxe, an AED 2.2 bn mixed-use development on Dubai\u2019s Sheikh Zayed Road, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/sol-properties-launches-aed-22-billion-landmark-mixed-use-development-sol-luxe-on-sheikh-zayed-road-wv14v4qu\" style=\"\" rel=\"noopener\">press release<\/a>. Construction on the 280-meter high, 62-floor project is already underway, with the project slated for handover in 4Q 2028.<\/p>\n<p class=\"tag-border-left\">CONSTRUCTION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mulk <\/strong><strong>International + Egypt\u2019s Marses set up robotics JV for construction: <\/strong>UAE-based Mulk Holdings\u2019 subsidiary, Mulk International, launched a robotics joint venture \u2014 Mulk Marses Robotics \u2014 with Egyptian AI and robotics company Marses, <a target=\"_blank\" href=\"https:\/\/www.tradearabia.com\/News\/436863\/Mulk%2c-Marses-launch-robotics-JV%3b-aim-to-disrupt-construction-sector\" style=\"\" rel=\"noopener\">Trade Arabia<\/a> reports. The companies plan to launch factories in the UAE, the US, and Europe to produce high-efficiency tech, including robotically manufactured wall panels, pods, and modular housing systems. The two are also set to establish the Construction Automation Training Academy in a bid to secure a talent pipeline.<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DP <\/strong><strong>World partners with Kenya\u2019s eCitizen to digitalize customs clearance: <\/strong>DP World will integrate its Cargoes Customs system into Kenya\u2019s Electronic Citizen Solutions (eCitizen) platform under a long-term agreement \u2014 a move that aims to digitalize Kenyan trade and upgrade the country\u2019s customs clearance processes, according to <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2025\/september\/22-09\/dp-world\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plus: UAE and Egypt inked five MoUs to boost collaboration in the aviation sector<\/p>\n","protected":false},"author":1,"featured_media":107760,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1552],"tags":[302,47,895,306,324,244,23,143,1371,7,194,132,99,266,98,839,950,411],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-al-habtoor","tag-also-on-our-radar","tag-automotive","tag-aviation","tag-construction","tag-dp-world","tag-egypt","tag-energy","tag-enoc","tag-enterpriseam-uae","tag-evs","tag-insurance","tag-logistics","tag-oil-and-gas","tag-real-estate","tag-uae-india-relations","tag-uae-kenya-relations","tag-union-insurance","wpautop","entry"],"acf":{"mongo_id":"c0c81ca9-b15c-4b54-acf8-3d3b0150c1a9","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/1337.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Dragon Oil expands Iraqi footprint with new agreements","related_issue":[107736],"teaser":"Plus: UAE and Egypt inked five MoUs to boost collaboration in the aviation sector","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.9c050015-2d5c-41b7-b7d3-fcc660b1df7e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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