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.

It said the combined rate of initial production was 3,396 barrels of oil per day (bopd) at the C/167 well.

The well was completed as a dual producer to a depth of 2,765 metres, the firm said.

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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.