Dragon Oil Says On Track for 2015 Milestone Target

Reuters

LONDON, July 11 (Reuters) - Turkemistan-focused oil explorer Dragon Oil said it was on track to meet its 2015 production milestone of 100,000 barrels of oil per day (bopd), despite disappointing drilling results at some of its Turkmen fields.

The explorer also said it would reach a 2014 output level of 87,000-90,000 bopd.

The company decided to suspend a new appraisal well at its Dzhygalybeg (Zhdanov) field in Turkmenistan after disappointing results.

"While the results of the initial flow rate from the well are below our expectations, it would be premature to draw conclusions about the potential of the Dzhygalybeg (Zhdanov) field," said chief executive Abdul Jaleel Al Khalifa.

(Reporting by Karolin Schaps, editing by William Hardy)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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