More rigs needed for Caspian development project

Aug. 20, 2012
Dragon Oil is adding intervals on the Dzheitune (Lam) 13/171 well in the Turkmen sector of the Caspian Sea, and expects to complete the Dzheitune (Lam) C/175 development well in the next few weeks.

Offshore staff

ASHGABAT, Turkmenistan – Dragon Oil is adding intervals on the Dzheitune (Lam) 13/171 well in the Turkmen sector of the Caspian Sea, and expects to complete the Dzheitune (Lam) C/175 development well in the next few weeks.

After the leased platform-based rig undergoes planned maintenance, it should spud the next well on the Dzheitune (Lam) 28 platform.

Toward year-end the company expects to take delivery of its newbuildCaspian Driller jackup, and it should be ready for drilling in 1Q 2013.

Dragon is tendering for another jackup and for two land rigs for deployment on the new Dzhygalybeg (Zhdanov) A and B platforms.

Last year, the company completed apreliminary water injection study using a dynamic simulation model for the Dzheitune (Lam) 75 area. Based on the simulation results, an injectivity test was conducted in June 2011.

Dragon is performing a workover on one of the wells in the target area to convert it into an injector-type well. After finalizing the procurement of equipment for the project, it hopes to start injection of water and monitoring toward the end of the year.

8/20/2012