Dragon Sees Oil Production Increase In Turkmenistan

Dragon Oil, the Dubai government-controlled company that is Turkmenistan�s principal upstream oil producer, said that it increased output by 10.7% in the first half of 2012, compared to the same period last year. Dragon expects to be able to carry out a drilling program that calls for the completion of 16 wells by the end of the year. This would result in an annual production increase of 10-15%, said the company�s CEO, 'Abd al-Jalil al- Khalifa, on announcing results for the first half of this year. Dragon remains �on target to reach the 100,000 b/d gross production level in 2015,� he added. By June this year Dragon had increased production to 64,200 b/d from a level of 58,000 b/d in the first half of 2011. Since the beginning of this year Dragon has completed 12 wells, including two sidetracks, in Turkmenistan�s Dzheitune (Lam) field. Its operations are in the Cheleken area offshore from Turkmenistan�s western coast. In the first half the company notes that it exported all of its crude oil production through Baku, Azerbaijan.

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