Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Dragon Oil breathes new life into assets

Turkmenistan
Turkmenistan

Dragon Oil, the Central Asia focused exploration company, set a new production record last month, exceeding daily output in excess of 100,000 barrels for the first time.

The company said it plans to sustain the 100,000 bopd average gross production for a minimum of five years from 2016.

The company also revealed its production rate had increased by almost 20,000 barrels of oil per day – rising to 92,060 bopd in the first half of 2015 compared to 73,440 bopd for the same period last year. Average gross production for June 2015 was 98,890 bopd peaking at 100,658 on June 9. Six wells were completed from 1 January 2015 to-date.

Capital expenditure on infrastructure, drilling and exploration assets amounted to $313million, which is on course with last year’s figure. Dragon’s cash balance (net of abandonment and decommissioning funds) topped out at $1.8billion.

Dragon chief executive Dr Abdul Jaleel Al Khalifa, said: “At the beginning of June 2015 we achieved a production level of 100,658 bopd. It is a milestone for Dragon Oil and a testament to the hard work and dedication of our talented people. We are aiming to maintain the average daily gross production at around 100,000 bopd for the remainder of the year and sustaining this plateau thereafter for a minimum of five years.”

Dragon Oil sold 10.2 million barrels of crude oil for the first half of this year, compared to last year’s 5.9 million barrels. It exported 87% of its crude oil production through Baku, Azerbaijan with the balance of volumes exported through Makhachkala in Russia.

Recommended for you

Tags

More from Energy Voice

Latest Posts