Middle East Economic Survey
Dragon Oil Reports 2004 Boost In Profits, Cheleken Production Over 20,000 B/D
Dragon Oil, which operates Turkmenistans offshore Cheleken oilfield, reported a net profit of $49.7mn during 2004, compared to $28.8mn in 2003. The steep rise in profit was attributed to higher oil prices and lower operating costs. Crude production averaged 13,264 b/d, of which 8,630 b/d went to Dragon. During the second half of the year, crude production...