Dragon Oil increases oil extraction via PSA in Turkmenistan
Turkemnistan, Ashgabat, Jan.27 / Trend , H.Hasanov /
Dragon Oil, a UAE company, which operates within the Production Sharing Agreement (PSA) in Turkmenistan, has increased average daily debit by nine percent.
The company said that average daily debit amounts to 44,765 barrels of oil. In 2008, the oil production was 40,992 barrels per day.
The Cheleken project in Turkmenistan was implemented in the mid 1990s. The development is carried out on the Djeitun (LAM) and Djigalibek (Jdanov) fields on the Caspian Sea shelf within the PSA signed with the Turkmen government. The proved and probable residual resources in the contract area are about 300 million barrels of oil and over 85.7 billion cubic meters of gas.
In 2009, eight wells have been put into operation. During this period capital costs for infrastructure and drilling amounted to $317 million (in 2008 it was $287 million).
Dragon Oil exported about 10.5 million barrels of Caspian oil produced in Turkmenistan in 2009, or 40 percent more than 2008.
The oil was distributed to sale markets via Iran and Azerbaijan.
Dragon Oil continues to assess additional marketing opportunities for the supply of its oil.