Ashgabat, Turkmenistan, Apr. 22
By Huseyn Hasanov - Trend:
The oil and gas company Dragon Oil, which conducts its main operation in the Turkmen sector of the Caspian Sea, increased in Q1, 2015 the crude oil exports.
The company said in a message Apr. 22 that in Q1, 2015, it sold 4.8 million barrels of crude oil versus 2.7 million barrels in Q1, 2014, or 78 percent higher than the volume sold during the corresponding period of the last year.
The oil export was carried out through the Baku (Azerbaijan) and Makhachkala (Russia) ports.
"Average gross production in the Cheleken Contract Area, Turkmenistan, reached approximately 88,700 barrels of oil per day (bopd) in Q1, 2015 - a 23 percent increase over the corresponding 2014 level," the company said in its message.
Dragon Oil also said the capital expenditure for Q1, 2015 was around $153 million (Q1, 2014: $107 million).
The company's baseline production sharing agreement (PSA) was signed with the government of Turkmenistan in 1999.
Dragon Oil is listed on the London and Dublin stock exchanges.
The company conducts its main activity is in the eastern sector of the South Caspian Basin - in the Cheleken Contract Area. The total area of the contract territory is about 950 square kilometres and includes the Jeitun, Jigalybek and Chelekenyangummez fields.