LONDON, Nov 2 (Reuters) - Dubai state-controlled Emirates National Oil Company (Enoc) has agreed to buy the 48 percent of Dragon Oil which it does not already own in a deal that values the Dublin and London-listed oil explorer at 2.36 billion pounds ($3.88 billion).
In June, Enoc said it was considering an offer for Dragon, as the company sought to expand its presence internationally, including in Turkmenistan, where Dragon operates and about which oil companies have grown increasingly interested in recent years.
Dragon said in a statement on Monday that the 455 pence/share offer represented a 34.6 percent premium to Dragon's closing price on the last trading day before it said it had received a bid approach.
A committee of independent directors recommended shareholders accept the bid.
In June, some analysts said a fair bid would be above 5 pounds/share, and since then, oil sector shares have risen.

($1=.6090 POUND)

(Reporting by Tom Bergin; Editing by Hans Peters) Keywords: DRAGON/ (+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net)

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