Ashgabat, Turkmenistan, Oct. 18
By Huseyn Hasanov – Trend:
The Dragon Oil company (UAE), which has been operating in the Turkmen sector of the Caspian Sea for over 18 years, has invested about $6.4 billion in the development of offshore fields, Turkmen publication Lachin reported citing the company.
Over these years, the average daily oil production has been steadily growing - from 7,000 barrels per day in 2000 to 86,700 barrels - at the end of 2018, the message says.
From January to August 2018, more than 2.6 million tons of oil were produced within the Turkmen project.
The drilling is carried out using Elima, Mercury, Caspian Driller, Sakson drilling rigs. The company operates under the Production Sharing Agreement (PSA) for the development of the oil-bearing sections of the Jeitun (Lam) and Jigalybek (Zhdanov) fields, signed in 1999. The company's shares are listed on the London and Dublin exchanges (stock exchange ticker: DGO), the company’s main shareholder is Emirates National Oil Company (ENOC).
The company conducts its activity mainly in the Eastern sector of the Southern Caspian Basin in the contract area of Cheleken. This area is nearly 950 square kilometres. It includes the Jeitun, Jigalybek and Chelekenyangummez deposits.
The estimated and proven reserves of oil and condensate in the contractual area amount to 663 million barrels. The contingent reserves of oil and condensate total 63 million barrels. The gas reserves amount to 1.3 trillion cubic feet. The prospective gas resources are 1.3 trillion cubic feet.