Turkmenistan, Ashgabat, April 20 / Trend H. Hasanov /
Dragon Oil, which has operated 10 years in the Turkmen sector of the Caspian Sea, noted the successful completion of regular drilling operations.
The company stated that drilling has finished at the Jeitun field, which reached a daily production rate of 1.895 barrels of oil while drilling the B/141 well. The well was drilled to a depth of 4,502 meters. About 562 barrels of oil were received from the A/125 well.
In early April, Dragon Oil reported oil exports will commence through the port of Baku in the near future, as the company is in talks with National Iranian Oil Company to conclude a "swap" transaction. The previous contract's 10-year period has expired.
In 2009, the company exported from Turkmenistan 10.5 million barrels of oil produced in the Turkmen sector of Caspian Sea, which is 40 percent more than in 2008, when 7.5 million barrels was sold.
The company operates in Turkmenistan under a PSA and part of the extracted raw material is supplied to world markets via Iran and Azerbaijan. In 2009, the company increased its average daily oil production by 9 percent to 44,765 barrels of oil from 40,992 barrels in 2008.
The company conducts development at the Jeitun and Jigalibek fields on the Caspian shelf within a contract signed with the Turkmen government.