Dragon Oil comfirms Turkmenistan oil strike

Dragon Oil plc, an international oil and gas exploration and production company, has announced the completion and initial testing of the Dzheitune (Lam) B/155 development well, the sixth well drilled from the Dzheitune (Lam) B platform.

The well was designed as a delineation-development well to reach the furthermost western area of the Dzheitune (Lam) West structure in order to explore the edge of the structure. It was drilled to a depth of 2,800 metres and completed on a dual production basis by the Iran Khazar rig.

The well crossed several oil bearing sands with good results in some pay sections. The initial combined test result from the well was 783 barrels of oil per day (“bopd”), with an initial rate of 611 bopd from the short string and 172 bopd from the long string.

A full review of the data is being undertaken with further testing and optimisation scheduled to take place. The results from this well are being used to update our geological modelling scenarios and, hence, future drilling plans in that area of the field.

The Iran Khazar rig has skidded to the next slot and spudded the Dzheitune (Lam) B/157 well; while the NIS rig is currently drilling the Dzheitune (Lam) 28/156 well.

Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented: “The Dzheitune (Lam) B/155 well crossed several oil bearing sands with good results in some pay sections and provided us with data on the most western area of the Dzheitune (Lam) structure. The results from this well do not affect our stated production growth guidance for 2011 of up to 20%. The next well to come into production will be the Dzheitune (Lam) 28/156 development well.”


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