Dragon Oil
Dragon Oil Plc is an innovative international oil and gas development and production company, quoted on the London and Irish Stock exchanges (ticker: DGO). Its principal producing asset is its 100% working interest in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. Dragon Oil also owns participating interests in blocks 35 and 49 in Yemen.
This year, Dragon Oil is celebrating the 10th anniversary of its PSA operations in the Cheleken Contract Area, which covers approximately 950 square kilometers and comprises two offshore oil and gas fields, Dzheitune ("LAM") and Dzhygalybeg ("Zhdanov"). During this time, the company has successfully increased average gross daily production from less than 8,000 to over 45,000 barrels of oil per day (as of August 2009), reflecting the mutually beneficial cooperation between Dragon Oil and the State Agency for Management and Use of Hydrocarbon Resources at the President of Turkmenistan.
The Cheleken Contract Area reserves (based on the latest reserves certification by independent petroleum engineers) are 636 million barrels of proven and probable oil, along with contingent gas resources of 3.2 trillion cubic feet as of 31 December 2008.
Dragon Oil is committed to a strong and active program of corporate social responsibility, which is reflected in our support of key local initiatives within Turkmenistan, particularly in Hazar, our operations base. Dragon Oil is proud to include approximately 860 Turkmenistan employees in its worldwide staff of about 1040.
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