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 and Iraq as part of the strategy to diversify our portfolio of assets.
Read about our 2013 interim results:2013 interim results 2013 interim results presentation 2013 interim results conference call transcript 2012 Annual Report and Accounts
For the Cheleken Contract Area we set a target of reaching 100,000 bopd of gross production in 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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We reported solid gross production growth in the first half of this year, at a healthy 15% compared to 1H 2012. Financial results for the first half of this year reflect the impact of slower than expected progress on the awarding of infrastructure projects and a revised pricing structure under the current crude oil marketing agreement.
Read about:2013 interim results 2013 interim results presentation 2013 interim results conference call transcript
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