Friday, 22 April 2011

Dragon Oil reports Caspian output rises 21% with larger pipe - The National

Dragon Oil has reported output in the first quarter rose 21 per cent over the same period last year after the company cleared production bottlenecks.

The company, which drills offshore in the Caspian Sea and has a minority stake in three exploration blocks in Yemen, spent US$74 million (Dh271.7m) in the first three months of this year on installing a wider pipeline and drilling three new wells.

That allowed the company to increase its average daily production to 57,800 barrels from 47,600 in the same period last year.

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