Dragon Oil plc
Annual Report for the year ended 31 December 2009
Stock code: DGO
driving production growth
Welcome to Dragon Oil
Turning vision and expertise into value
A message from the Chairman
I am pleased to report that Dragon Oil has delivered solid results in 2009 despite a challenging economic environment and that the stage has been set for stronger growth in 2010 and beyond. Stable oil prices enable us to confidently plan ahead and invest for growth. We are channelling our efforts into securing drilling and infrastructure projects to ensure even stronger performance in the coming year. Last year was a turning point for Dragon Oil internally, with the Company becoming a stronger organisation driven by a new management team working to the highest ethical standards. Corporate governance was improved, notably with the launch of a new Code of Conduct, while the Board also spent considerable time with the management team, shaping the Group’s mission and vision. We also pursued our objectives to improve continuously health and safety levels with notable results while Corporate Social Responsibility remained high on our agenda, reflecting Dragon Oil’s belief that it is our duty and responsibility to take care of the community in which we operate. I would like to emphasise that the Board is committed to increasing returns to all its shareholders and intends to leverage the Group’s balance sheet strength by investing in growing oil production, the monetisation of its significant gas resources and in growth through the acquisition of new assets to underpin its future growth. On behalf of the Board, I would like to thank the shareholders for their continued support and the management and our employees for their work and commitment throughout the past year. MOHAMMED AL GHURAIR Chairman
driving production growth
Stock code: DGO
Our Business
Investment Statement
The management and the Board are committed to the Group’s mission to explore and... [continues]
Annual Report for the year ended 31 December 2009
Stock code: DGO
driving production growth
Welcome to Dragon Oil
Turning vision and expertise into value
A message from the Chairman
I am pleased to report that Dragon Oil has delivered solid results in 2009 despite a challenging economic environment and that the stage has been set for stronger growth in 2010 and beyond. Stable oil prices enable us to confidently plan ahead and invest for growth. We are channelling our efforts into securing drilling and infrastructure projects to ensure even stronger performance in the coming year. Last year was a turning point for Dragon Oil internally, with the Company becoming a stronger organisation driven by a new management team working to the highest ethical standards. Corporate governance was improved, notably with the launch of a new Code of Conduct, while the Board also spent considerable time with the management team, shaping the Group’s mission and vision. We also pursued our objectives to improve continuously health and safety levels with notable results while Corporate Social Responsibility remained high on our agenda, reflecting Dragon Oil’s belief that it is our duty and responsibility to take care of the community in which we operate. I would like to emphasise that the Board is committed to increasing returns to all its shareholders and intends to leverage the Group’s balance sheet strength by investing in growing oil production, the monetisation of its significant gas resources and in growth through the acquisition of new assets to underpin its future growth. On behalf of the Board, I would like to thank the shareholders for their continued support and the management and our employees for their work and commitment throughout the past year. MOHAMMED AL GHURAIR Chairman
driving production growth
Stock code: DGO
Our Business
Investment Statement
The management and the Board are committed to the Group’s mission to explore and... [continues]
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