Friday, 17 June 2011

Dragon Oil's Caspian well tests at 3,038 b/d

Dragon Oil has completed initial testing on a well in the Cheleken contract area, in the Caspian Sea offshore Turkmenistan. The Dzheitune (Lam) 28/156 well reached a depth of 2,000 metres and was completed as a single producer. The initial test result from the well was 3,038 b/d.

The company's oil Chief executive Abdul Jaleel Al Khalifa said: "I am pleased to report the successful completion and initial testing of the Dzheitune (Lam) 28/156 development well, the fifth well to have been completed within the 2011 drilling programme. We continue to optimize well locations to ensure good potential while accessing different areas of the reservoir."

In April, Dragon announced it had a strong first quarter to end-March 2011 with a solid production performance. It now plans to complete 11 wells within the 2011 drilling campaign. Production from the Cheleken contract area averaged approximately 57,800 b/d, up from 47,600 b/d in the first quarter last year.

Sources: Proactive Investors, Dragon Oil

For more news and expert analysis about the Caspian region, please see Caspian Focus.

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