Dragon Oil edges further in Dzheitune well production
Dragon Oil announced Friday the successful completion and initial testing of its Dzheitune well, offshore Turkmenistan.
Dragon Oil announced Friday the successful completion and initial testing of its Dzheitune well, offshore Turkmenistan.
The international oil and gas exploration company has achieved a depth of 3,085 metres at the Dzheitune (Lam) A/177 well.
Tests showed an initial production rate of 1,796 barrels of oil per day (bopd).
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The jack-up rig used to complete the well is undergoing scheduled maintenance.
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, said: "I am pleased to report the successful completion and testing of the Dzheitune (Lam) A/177 development well. With this well we conclude an intensive drilling programme for this year, having completed 15 wells against the initial target of between 13 and 15 wells set at the beginning of the year.
"We have been producing at well above 70,000 bopd since mid-August and we firmly re-iterate our production growth guidance of 10% for 2012. The final production numbers will be reported in the trading statement due on January 15th, 2013."
Dragon Oil has a market capitalisation of £2,613.73m. Shares climbed 3.45% to 540.00p at 14:30 Friday.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz