LONDON Feb 18 Turkmenistan-focused oil company
Dragon Oil said it expected to drill 14-16 wells this
year and around 20 wells in 2015, in a bid to meet its 100,000
barrels per day production target from next year.
"We continue our journey to achieve the 100,000 bopd
production target in 2015, which will be maintained as a plateau
from 2016," said Dragon Oil Chief Executive Abdul Jaleel Al
The company saw a string of delays and well testing
difficulties in 2013 which resulted in a lower-than-expected
It now forecasts an annual production growth rate at the
lower end of 10-15 percent for 2014.
The company posted a 13 percent drop in operating profit to
$687.7 million and revenue was down 9 percent at $1.1 billion,
Dragon Oil said on Tuesday.