More good news from Dragon Oil
Caspian Sea-focused oil and gas giant Dragon Oil has announced successful initial testing at the latest well of its Dzheitune field, off the cost of Turkmenistan.
Caspian Sea-focused oil and gas giant Dragon Oil has announced successful initial testing at the latest well of its Dzheitune field, off the cost of Turkmenistan.
It said the combined rate of initial production was 3,396 barrels of oil per day (bopd) at the C/167 well.
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
It tested for initial production at 1,682 barrels of oil per day at the short string with the long string testing at 1,714 barrels of oil per day.
"The drilling results together with logs and pressure tests indicate that the prolific oil bearing sands in the reservoirs under the Dzheitune (Lam) 28 platform extend to the west towards the Dzheitune (Lam) C platform location," said Chief Executive Dr Abdul Jaleel Al Khalifa.
"The findings from this well further prove our understanding of the Dzheitune (Lam) West area."
In January the firm said it saw "great potential" in the Dzheitune field and reported its year-end production rate was 71,751 bopd, ahead of the 70,000bopd target.
-
Boost for over 100,000 families on Child Benefit as new HMRC payment system rolled outThousands of households will no longer have to pay the dreaded High Income Child Benefit Charge through self-assessment
-
Are you being haunted by the ghost of Christmas past? How festive cutbacks could boost your long-term wealthThe average family spends around £1,000 over the Christmas season. Here’s how much you could have gained if you had invested some of the money instead.
