The Dubai-based Dragon Oil announced that at its Annual General Meeting (AGM) held in London on Thursday, June 26, 2003, the shareholders reappointed Chairman Hussain Sultan and Director Jeremy Key.
Key was reappointed as an independent non-executive director after the withdrawal of his sponsorship by Emirates National Oil Company Limited (ENOC) LLC.
In June, Dragon Oil signed a contract for the provision of a jack up rig from early November 2003, for a period of eight months, to re-commence its drilling program in the Cheleken block, Turkmenistan. The contract for the engineering and upgrade of LAM 21 platform is also in the final stages of being concluded.
The jack up rig contract was concluded with LukOil Shelf Limited a company within the LukOil Group of Companies. “This is a significant contract to be executed by Dragon Oil,” stated Sultan. “The provision of a jack up rig to continue drilling in our Turkmenistan field will ensure that we are able to enhance production and build upon last year’s achievements.”
”We are also in the final stages of concluding a contract for engineering and upgrade of the LAM 21 platform, from which the next wells are to be drilled. The plan to drill from LAM A has been deferred,” he added. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
