Our focus is on the development of our producing asset, gas monetisation opportunities and expansion into a multi-asset company.
Dragon Oil plc is an independent international oil and gas exploration, development and production company. Our principal producing asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. We have exploration blocks in partnership with other companies:
The Group’s headquarters are in Dubai, United Arab Emirates. Emirates National Oil Company Limited (ENOC) L.L.C., a company ultimately owned by the Government of Dubai, owns approximately 54% of the Company’s ordinary share capital. Dragon Oil is registered in Ireland (Company Registration no: 35228) with a premium listing on the London Stock Exchange and a primary listing on the Irish Stock Exchange (Ticker: DGO).
The Group develops the hydrocarbon reserves in the Cheleken Contract Area in accordance with the terms of the Production Sharing Agreement (PSA), where Dragon Oil had proved and probable oil reserves as at 31 December 2014 of 663 million barrels of oil and condensate, gas 2P reserves and contingent gas resources of c. 2.6 TCF.
The Bargou Exploration Permit in Tunisia contains prospective resources.
For Iraq, the report from an independent petroleum engineer incorporating the results of testing the Mishrif formation indicated contingent 2C oil resources of 198 million barrels and contingent 2C gas resources of 56 Bscf net to Dragon Oil on a working interest basis.
All other blocks are at an early stage of exploration.