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Dragon Oil announces completion and initial testing of the Dzheitune (Lam) 28/137 and 13/138 development wells

  • United Arab Emirates: Wednesday, October 14 - 2009 at 12:06
  • PRESS RELEASE

Dragon Oil plc, an international oil and gas exploration and production company, today announces the successful completion and initial testing of the Dzheitune (Lam) 28/137 and 13/138 development wells.

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The Iran Khazar drilled the Dzheitune (Lam) 28/137 well to a depth of 3,301 metres. Testing of the short and long strings resulted in production rates of 1,020 bopd and 1,121 bopd respectively, with further testing and optimisation scheduled to take place.

The Iran Khazar rig has finished its drilling programme on the Dzheitune (Lam) 28 platform and has been mobilised to the Dzheitune (Lam) A platform, where it has spudded the Dzheitune (Lam) A/139 development well. The Dzheitune (Lam) B platform is expected to be ready for drilling in November 2009.

The Dzheitune (Lam) 13/138 well was drilled by Rig 40, the converted land-rig, to a depth of 3,268 metres. Testing of the short and long strings resulted in production rates of 1,828 bopd and 683 bopd respectively, with further testing and optimisation scheduled to take place. Since completing the Dzheitune (Lam) 13/138 well, Rig 40, has skidded to slot 6 on the Dzheitune (Lam) 13 platform to commence drilling the Dzheitune (Lam) 13/140 well.

Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:

"I am pleased to announce that the Dzheitune (Lam) 28/137 and 13/138 development wells have been completed as scheduled. We are progressing the drilling programme in line with the field development strategy and we expect to have completed eight wells by the end of 2009."
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About Dragon Oil
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. The Company has 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. The operational focus is on the re-development of two oil producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).

For further information, please contact:
Kate Lehane
Account Executive
Citigate Dewe Rogerson
3 London Wall Buildings
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London EC2M 5SY
Tel: +44 (0)20 7282 1063
Fax: +44 (0)20 7282 2855

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