Dragon Oil’s 1H14 Output Falters As Ambitions Soar

Dubai-based Dragon Oil enjoyed an 11% rise in revenues in the first six months of the year versus the same period in 2013, despite output from its only producing asset remaining flat.

According to the company’s interim results for the first half of 2013, production from the offshore Cheleken contract in Turkmenistan, in which it holds a 100% stake, stood at 73,440 b/d for the six months to 30 June 2014, slightly down on the corresponding period last year (see table).

June production rose to 76,100 b/d, but these numbers may be slightly misleading: in June 2013 for example, short-lived boosts from development wells saw production rise to 75,800 b/d only to settle back down thereafter.


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