Dragon Oil, headquartered in Dubai, UAE, is a 100% operator of the Cheleken Contract Area, offshore Turkmenistan, where it re-develops two oil fields. The Group also has exploration blocks in Tunisia, Iraq, Afghanistan, Egypt and the Philippines.
2014 interim results:2014 interim results Analyst presentation Conference call transript 2013 Annual Report
For the Cheleken Contract Area we set a target of reaching 100,000 bopd of gross production in late 2015 and maintaining this level for a minimum of five years thereafter. In the meantime, we search for new opportunities in Africa, the Middle East and parts of Asia.
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In 1H 2014, managing existing production and completing two successful sidetracks allowed us to maintain the average gross production at above 73,000 bopd. The average gross production was above 76,000 bopd in June and has continued to increase in July. We were pleased to report that the contract has been signed for Block 19 East Zeit Bay, offshore the Gulf of Suez, Egypt, our first 100%-operatorship block outside of Turkmenistan.
Read about:2014 interim results
With a solid track record of delivering organic growth in production and reserves from our key asset, Dragon Oil is well positioned to pursue its diversification strategy and to return value to its shareholders. We pay regular dividends and have undertaken a share buyback programme.
Read about:Our business model Key result areas
At Dragon Oil we have always believed that the best, and right, way to run our business is in a spirit of partnership. All sides should benefit, ranging from employees and shareholders to suppliers and our host communities.
Read about:Our CSR strategy Our community work Our people
We offer high quality careers and opportunities for everyone, with a particular focus on our local employees. We are committed to personal growth and development through excellent training and challenging opportunities. We embrace diversity and foster a working culture.
Read about:Training and development Careers Code of conduct