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RNS Number : 9137V
Dragon Oil PLC
19 December 2013
 



19 December 2013

DRAGON OIL PLC

(the "Company" or together with its subsidiaries "Dragon Oil" or the "Group")

Update on the drilling rigs

Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, today publishes an update on the status of the drilling rigs in the Cheleken Contract Area in Turkmenistan as follows:

·             

The Neptune jack-up drilling rig has arrived to the Cheleken Contract Area and is being prepared for spudding the Dzhygalybeg (Zhdanov) 21/101 well in mid-January 2014. The rig will be available for nine months and then released. In its place we expect to take delivery of the Mercury jack-up drilling rig, which is scheduled to arrive into the Caspian Sea in 4Q 2014 and will be available for the remainder of the three-year contract term.

·             

The leased platform-based rig ("Land Rig 1") has completed scheduled maintenance and is expected to commence drilling on the Dzheitune (Lam) 22 platform in January 2014.

·             

The contracted platform-based rig ("Land Rig 2") for drilling on the Dzhygalybeg (Zhdanov) A platform has arrived to the Cheleken Contract Area and is being prepared to commence drilling the Dzhygalybeg (Zhdanov) A/102 appraisal/development well in February 2014.

·             

The arrival of the Caspian Driller jack-up rig is expected in mid-2014 due to further delays on the contractor's side.

·             

The contracted platform based rig ("Land Rig 3") is expected to arrive in 4Q 2014.

·             

The jack-up drilling rig is currently completing the Dzheitune (Lam) C/186 development well.

Further updates on the drilling programme for 2014 will be provided in the Trading Statement due to be released on 14 January 2014.

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For further information please contact:

Investor and analyst enquiries

Dragon Oil plc

Anna Gavrilova

 

(+44 (0)20 7647 7804)

Media enquiries

Citigate Dewe Rogerson

Martin Jackson

 

(+44 (0)20 7638 9571)

About Dragon Oil

Dragon Oil plc is an international oil and gas exploration, development and production company, quoted on the London and Irish Stock exchanges (Ticker symbol: DGO). Its principal producing asset is in the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan.

Dragon Oil (Turkmenistan) Ltd., a wholly owned subsidiary of Dragon Oil plc, holds 100% interest in, and is the operator of, the Production Sharing Agreement for the Cheleken Contract Area. The operational focus is on the re-development of two oil and gas producing fields, Dzheitune (Lam) and Dzhygalybeg (Zhdanov).

The Group has exploration blocks in Tunisia, Iraq and Afghanistan. Dragon Oil's diversification strategy is to add exploration and production assets within Africa, parts of Asia and the Middle East in order to create a diversified and balanced portfolio of assets for the Group.

www.dragonoil.com 

 

Disclaimer

This news release may contain forward-looking statements concerning the financial condition and results of operations of Dragon Oil. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. No assurances can be given as to future results, levels of activity and achievements and actual results, levels of activity and achievements may differ materially from those expressed or implied by any forward-looking statements contained in this report. Dragon Oil does not undertake any obligation to update publicly or revise any forward-looking statement as a result of new information, future events or other information.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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