Dragon Oil (LON:DGO) has confirmed the completion of its latest well in the Caspian Sea.
The Dzheitune (Lam) A/176 well will add just under 1,500 barrels of oil per day to the company’s production run-rate from the Cheleken production sharing contract area.
The well was completed as a single producer, and it was drilled to a depth of almost 1,800 metres.
Dragon said there are deeper targets in this well and they will be tested in the future when the well is deepened.
Meanwhile the rig has moved on to drill the next development well, Dzheitune (Lam) A/177.
Last month Dragon said it produced around 70,000 barrels of oil per day in the third quarter from its operations in the Caspian Sea, offshore Turkmenistan, and it expects to have grown production by 10% this year.
It plans to continue this growth - by adding between 10-15% each year to take the field’s output to 100,000 barrels a day by 2015.