Turkmenistan, Ashgabat, Oct. 29 / Trend H.Hasanov /
Dragon Oil plc, an international oil and gas exploration and production company, announces the completion and initial testing of the Dzheitune (Lam) B/148 and 28/149 development wells, the company reported.
The Dzheitune (Lam) B/148, the third well in a series of wells to be drilled from the Dzheitune (Lam) B platform, was drilled to a depth of 3,858 metres by the Iran Khazar rig and completed with dual strings. Testing of the short and long strings resulted in production rates of 1,556 barrels of oil per day ("bopd") and 1,083 bopd, respectively.
The Dzheitune (Lam) 28/149 well, which was drilled to a depth of 3,295 metres by the NIS rig, was also completed with dual strings. The short string tested at 1,866 bopd with the long string testing at 2,513 bopd. The NIS rig has skidded to the next slot on the Dzheitune (Lam) 28 platform and spudded the 28/151 well.
Dragon Oil plc is an international oil and gas development and production company, quoted on the London and Irish Stock exchanges. Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.
Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil plc, holds 100% interest in and is the operator of the Production Sharing Agreement (PSA) for the Cheleken Contract Area. The operational focus is on the re-development of two oil-producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).
Dragon Oil's revenue increased by 31 percent in the first half of 2010 compared to the same period of last year. The average daily oil production increased by 8 percent.
At the same time, the average daily oil production in the first half of 2010 hit 46.42 barrels compared to 42.808 barrels per day a year ago. The oil was transported through the port of Baku. The relevant contract was signed in June 2010.
The basic PSA with the Turkmen Government was signed in 1999. The total area of the contract territory is approximately 950 square kilometers.
More than four new wells were put into operation. More than ten offshore platforms were built and reconstructed. More than 80 kilometers of pipelines were laid. The export opportunities were expanded. The additional storage facilities were built.
It is planned to complete the construction of the pipeline with length of 40 kilometers, to increase the capacity of fishery products up to 75,000 barrels of oil per day and 220 million cubic feet of gas.
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