Dragon to invest $500 million
Offshore staff
ASHGABAD, Turkmenistan --Dragon Oil is embarking on a three-rig development campaign in the Turkmen sector of the Caspian Sea. This will involve deployment of one jack-up and two platform-based rigs.
The jack-upBetween 2007-09, the company plans to drill up to 25 development and appraisal wells, subject to rig availability, leading to a 25% year-on-year increase in its crude production. It also expects to spend around $500 million over this period on new production platforms, offshore facility upgrades, new pipelines, and enhanced export capability.
03/07/2007