January 19, 2017

• His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, is new Board Chairman
• Board will continue to drive ENOC's upstream operations to strengthen UAE's energy security

Dubai, UAE; January 19, 2017: Dubai-government owned ENOC Group announced the new Board of Directors of its wholly-owned subsidiary Dragon Oil, with His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and chairman of ENOC Group board; as its new Chairman.

Dragon Oil's new board members are:

• His Excellency Saeed Mohammed Al Tayer, Managing Director & CEO of DEWA, and Vice Chairman of Dragon Oil board
• His Excellency Abdulrahman Al Saleh, Director-General, Department of Finance, Government of Dubai
• Hussain Hassan Mirza Al Sayegh, Deputy Chairman, Oilfields Supply Centre
• Dr Abdul Rahman Al Awar, Director General of Federal Authority for Government Human Resources (FAHR)
• Ahmad Sharaf, CEO of Dutco Energy and Chairman of the Dubai Mercantile Exchange
• Ahmad Al Muhairbi, Secretary General of the Dubai Supreme Council of Energy

His Excellency Saif Humaid Al Falasi will continue as Dragon Oil CEO at this stage, in addition to his responsibilities as ENOC Group CEO.

Dragon Oil was fully acquired by ENOC in September 2015. Over the last 15 months, ENOC Group has conducted due diligence for the integration of Dragon Oil into its fold and is now set to embark on a new era of growth.

The new board will provide critical leadership and direction to Dragon Oil as it seeks more upstream opportunities while building on existing contracts. With the addition of an upstream segment to its operations, ENOC now has strong competencies across the entire energy value chain. Through its investment in Dragon Oil, ENOC provided an upstream asset for the emirate of Dubai, underlining its credentials in bolstering the nation's energy security.

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