Dragon Oil begins testing in Turkmenistan

 

Dragon Oil, the Dublin-listed oil and gas group which is controlled by the government of Dubai through the Emirates National Oil Company, today said testing has begun on one of four zones of the recently completed well 22/103, drilled in the LAM field, offshore Turkmenistan.

The company said it expects testing to be completed and final results available by end-June 2002. The company added it expects drilling of well 22/104 to begin at the end of June.

On the Dublin market, Dragon Oil’s shares closed at 26 cents yesterday. Over the last twelve months the share price has risen to 43 cents and fallen to a low of 20 cents.