Azerbaijan, Baku, Jan. 11 / Trend E.Ismayilov /
Dragon Oil plc (Ticker: DGO), an international oil and gas exploration and production company, announces the completion and initial testing of the Dzheitune (Lam) B/150 development well. The Dzheitune (Lam) B/150 was drilled to a depth of 3,980 metres and completed as a dual producer by the Iran Khazar rig, the company reported.
The combined initial test rate was 1,622 barrels of oil per day ("bopd") with the short and long strings testing at 632 and 990 bopd,respectively. The Iran Khazar rig has skidded to the next slot and spudded the Dzheitune (Lam) B/153 well.
"I am pleased to report that we have now fulfilled the 2010 drilling program with the last of the 11 planned wells put into production in the first week of January this year," Chief Executive Officer Dr. Abdul Jaleel Al Khalifa said.
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. The basic PSA with the Turkmen Government was signed in 1999. The total area of the contract territory is approximately 950 square kilometers.
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).