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Thursday, 08 January, 2009, 19:50 GMT | more >>

Dragon fires strong 2006 results



By Upstream staff 

Dubai-owned Turkmen producer Dragon Oil said today it earned an operating profit of $212 million during 2006, an increase of 30% from the previous year.

Profit for the year reached $180 million, a 70% improvement over 2005, according to the company's preliminary annual results.

The company also reported a 6% increase in output from its oil producing asset in the Cheleken field, off Turkmenistan.

Average gross production during 2006 stood at 20,514 barrels per day of oil, compared with 19,426 bpd in 2005. Of this, 15,115 bpd were attributable to Dragon.

Dragon said that its field development plan for 2007 envisages the drilling of up to 25 development and appraisal wells between now and 2009 and an expenditure during the same period in the region of $500 million.


Wednesday, 07 March, 2007, 07:57 GMT  | last updated: Wednesday, 07 March, 2007, 08:39 GMT

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