Dragon Oil Completes Two Wells in Turkmenistan

Dragon Oil plc, an international oil and gas exploration, development and production company, today publishes an update on the wells completed in the Cheleken Contract Area in Turkmenistan in the third quarter of 2013 and production numbers for 3Q and September 2013.

Since the previous quarterly drilling update on 10 July 2013, Dragon Oil has completed two wells. Both wells were completed using the jack-up rig on the Dzheitune (Lam) C platform. The Dzheitune (Lam) C/183 well was drilled and completed as a dual producer to a depth of 2,758 metres in August; the depth of the Dzheitune (Lam) C/184 well was 2,900 metres and it was completed as a single producer in September. Both wells are producing with testing planned to start following the commissioning of an additional line between the Dzheitune (Lam) C and 28 platforms. The rig has skidded to the next slot to drill the Dzheitune (Lam) C/185 well, one of the remaining two wells to be completed by the jack-up rig before the end of the year.

The leased platform-based rig is currently on scheduled maintenance and expected to commence drilling on the Dzheitune (Lam) 22 platform in 4Q 2013. The rig is due to complete one well on the Dzheitune (Lam) 22 platform before the end of the year. The arrival of the contracted platform-based rig (“Land Rig 2) for drilling on the Dzygalybeg (Zhdanov) A platform is expected in 4Q 2013.

As announced separately, Dragon Oil has awarded a contract for the lease and management of two jack-up drilling rigs from BKE Shelf Ltd for a total period of three years. The first one of these rigs, the Neptune rig, is due to arrive shortly and commence drilling on the Dzhygalybeg (Zhdanov) 21 platform.

The water injection pilot project in Dzheitune (Lam) 75, which started in June 2013, has been progressing and early indications of the pressure response in the pilot area are positive. Dragon Oil plans to expand water injection operations to two or three other platforms during 2014. The aim of water injection program is to maintain pressure, sustain production rates and increase reserves recovery.

The introduction of an artificial lift in form of jet pumps started in June 2013 in two wells on the Dzheitune (Lam) 13 platform: 13/118 and 13/168. “We have seen a production increase in the range of 500-700 bopd per well. The impact from jet pumps application has, thus far, been encouraging and we are currently installing a jet pump in another well on the same platform that should commence production by early October. In addition, we plan to expand jet pumps operations to other select platforms during 2014. The objective of jet pumps application is to increase production and enhance recovery,” said the company in a press release.

The average Cheleken field production for 3Q 2013 was approximately 74,300 bopd (3Q 2012: 69,600 bopd), representing an increase of 7% over the corresponding period in 2012. The average production for September 2013 was 74,000 bopd (September 2012: 72,200 bopd).

“We reiterate our guidance for the growth rate for the full year 2013 to be at the lower end of the medium-term growth rate range of 10% to 15%,” Dragon said.

The final operational figures for the third quarter of this year will be published in the Interim Management Statement due on 29 October 2013.

October 04, 2013

 

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