Offshore staff
TURKMENISTAN -- Dragon Oil Plc. has finished drilling development wells LAM 21/117 and LAM 13/ 118 in the Cheleken contract area offshore Turkmenistan. Perforation and flow testing of these wells will be performed shortly, the company says.
According to Dragon, the National Iranian Oil Co. jackupIran Khazar has moved to the new LAM A platform and has spudded LAM A/119, the first in a series of development wells. Eurasia Drilling Co.'s Astra jackup is scheduled to move to the LAM 28 platform to drill the company's first exploration/appraisal well on the block, well LAM 28/120
"I am pleased to announce the completion of the company's first two development wells in the current year. I am now looking forward to seeing the results of the next wells on our drilling schedule, which includes the first well to be drilled from our new LAM A platform and our first exploration/appraisal well to be drilled on the LAM West structure, says Hussain M. Sultan, Dragon chairman and CEO.
The Cheleken contract area covers 950 sq km (367 sq mi) and comprises two offshore oil and gas fields, Dzheitun (LAM) and Dzhygalybeg (Zhdanov), in water depths ranging from 8 to 42 m (26-138 ft), as well as a minor offshore extension of an adjacent onshore producing field. The company's operational focus offshore Turkmenistan is the development of the LAM and Zhdanov fields, which originally were discovered during the Soviet era.
Dragon Oil operates the Cheleken contract through a production sharing agreement with the Turkmen government. The PSA has a duration of 25 years, with an exclusive right to negotiate an extension for an additional period of not less than 10 years.
2/6/2007
