PETRONAS and Dragon Oil Join Forces to Expand Upstream Reach

DUBAI, 31 October 2025 – PETRONAS, through its subsidiary PETRONAS Carigali International Ventures Sdn Bhd (PCIV), and Dragon Oil (International) Limited (Dragon Oil) have signed a Memorandum of Understanding (MoU), marking the beginning of a strategic collaboration in the upstream oil and gas sector.

The partnership brings together PETRONAS' and Dragon Oil’s strong regional expertise and global footprint, providing a framework for both parties to explore mutually beneficial opportunities in international upstream exploration and production.

The MoU was signed by PETRONAS Senior General Manager of Strategy and Commercial, Azahari Mohd Shuid, and Dragon Oil Chief Growth Officer, Fareed Abdulla Al Hashmi. The signing ceremony was witnessed by PETRONAS Executive Vice President & Chief Executive Officer Upstream, Mohd Jukris Abdul Wahab, and Dragon Oil Chief Executive Officer Abdulkarim Ahmed AlMaazmi.

Jukris said, “This MoU demonstrates our clear progress of building on the strength of our existing footprint and shaping a more connected, resilient upstream landscape. We aim to continuously push our growth momentum that positions us strongly for the prospects ahead by driving collaboration and innovation in key regions.”

The collaboration reflects PETRONAS’ commitment to expanding its upstream portfolio through strategic alliances that unlock synergies and reinforce its presence in key markets. Committed to growth through meaningful collaborations, PETRONAS continues to create sustainable value for shareholders while delivering reliable energy.