Dragon Oil clinches contracts to build 2 drilling platforms at Cheleken
MOSCOW. May 13 (Interfax) - Dragon Oil has concluded contracts to build a pair of maritime platforms in the Cheleken contract area on Turkmenistan's Caspian Sea shelf, the company said in a statement.
The first platform will be put on-site in Q1 2012 at the Dzhigalybek deposit at for onshore drilling installation and jack-up floating drilling rig. The subcontractor is Caspian Energy Projects LLC.
The second will be installed in Q4 2011 at the Dzheitun deposit for another jack-up floating drilling rig. The subcontractor here is ILK Insaat Taah San. Ve.tic Ltd.
Up to eight wells can be drilled from each platform.
Dragon Oil will put $250 million into Cheleken infrastructure this year. Overall 2010-2012 investments will come to $600-$700 million.
The company works the Cheleken contract area on Turkmenistan's Caspian shelf under production-sharing agreements hammered out with the Turkmen government back in 1999. Dragon Oil is to get 147 million barrels of proven oil reserves (389 million barrels proven and likely) and, in the best-case scenario - 27 billion cubic meters (bcm) of gas. Cheleken encompasses two huge deposits - Dzhigalybek and Dzheitun.
The company increased oil sales 40% last year to 10.5 million barrels.