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Dragon Oil ups oil production on Turkmen shelf of Caspian Sea

Oil&Gas Materials 10 June 2017 15:30 (UTC +04:00)

Ashgabat, Turkmenistan, June 10

By Huseyn Hasanov – Trend:

The UAE’s Dragon Oil produced almost one million tons of oil from offshore platforms at the Cheleken Contract Area in the Caspian Sea in 2017, the Neutral Turkmenistan newspaper said in an article.

The company operates under the production sharing agreement signed in 2000 to develop oil-bearing areas of the Dzheitune and Dzhygalybeg fields.

"Dragon Oil invested about $6 billion in the development of the offshore fields and continues to increase investments,” reads the article.

The company’s specialists plan to drill 18 offshore wells in 2017. The work on six of them has already been completed.

“Thanks to the comprehensive work, average daily oil production at the Dzheitune and Dzhygalybeg fields has been steadily increasing – from 7,000 barrels per day in 2000 to 10,800 tons (35,000 barrels) in 2017,” according to the article.

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