Hussain M. Sultan, Chairman and CEO of Dragon Oil commented, "The successful completion and initial testing of the Dzheitune (Lam) A/125B development well, drilled from the Dzheitune (Lam) A platform, is the second well completed by Dragon Oil in 2008. The results from this well are especially encouraging as it is the first time we have perforated and produced from the upper most part of reservoir zone CH2."
Drilling details
Initial testing of the well A/125B, which was drilled to a depth of 4080 metres, has been successfully completed. The well yielded an initial combined flow rate of 4,082 bopd from the short and long strings. Testing of the individual short and long strings resulted in production rates of 2,399 bopd and 1,683 bopd respectively. Further testing and optimisation is scheduled to take place over the coming weeks.
The 'Iran Khazar' rig has since been skidded to slot 7 on the Dzheitune (Lam) A platform and will spud a further development well, Dzheitune (Lam) A/127 shortly. The new development well has a target depth of 4,164 metres.
Posted by Medilyn Manibo, Assistant News Editor
Saturday, March 22 - 2008 at 16:22 UAE local time (GMT+4)
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Dragon Oil Plc is an innovative international oil and gas development and production company, quoted on the London and Irish Stock exchanges (Ticker symbol: DGO). Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan and recently acquired interests in Blocks 35, 49 and R2 (10%) in the Republic of Yemen.
Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil plc, holds 100% interest in and is the operator of the Production Sharing Agreement for the Cheleken Contract Area in the Caspian Sea, offshore Turkmenistan. Operational focus is on the re-development of two oil producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).
For further information please contact:
Citigate Dewe Rogerson (+44 20 7638 9571)
Martin Jackson
George Cazenove
Investor and Analyst enquiries
Dragon Oil Plc (+971 4 305 3600)
Leanne Denman, Investor Relations Officer
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