Dragon to drill first Cheleken-2 production well in August

Dragon Oil Turkmenistan Ltd. will drill its first production well on the Cheleken-2 concession off Turkmenistan next month, said 69.4% interest holder Emirates National Oil Co. of Dubai.


DUBAI�Dragon Oil Turkmenistan Ltd. will drill its first production well on the Cheleken-2 concession off Turkmenistan next month, said 69.4% interest holder Emirates National Oil Co. of Dubai.

Hussein Sultan, chief executive of ENOC, said Dragon Oil Turkmenistan would start drilling the first production well by the end of August. He told reporters here that two more wells are slated to be drilled at the site over the next 6 months.

Depending on the outcome, Dragon Oil will move into the next phase, he added.

"Exploration and production at Cheleken-2 will be a [simultaneous] process, and we are proceeding as per plan," he said.

Sultan says several Soviet wells have been drilled in Cheleken-2 but most of them are old and outdated.

Dragon Oil has a 50% stake in the Cheleken-2 concession, postulated to hold reserves of 220 million bbl of oil. It contains two oil fields besides Cheleken-2, Lam and Zadhanov.

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