Dragon sees multiplatform Caspian oil and natural gas development

08/20/2012
Dragon Oil PLC said it has built production to 70,017 b/d of oil on Aug. 11 from the Cheleken contract area in the eastern Caspian Sea offshore Turkmenistan. First half 2012 output averaged 64,200 b/d, 10.7% higher than in the first 6 months of 2011. An oil swap agreement with Iran has expired, and all oil is exported via Azerbaijan. Production is surging even though a number of wells were choked to minimize sand production in the second quarter. Desanders are being installed in problem areas, and all new wells are equipped with desanding devices. The company placed 12 wells on production in 2012 and aims to drill four more wells by yearend. The Caspian Driller jack up is expected to begi...
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