Dragon Oil

Profile

Dragon Oil plc is an independent oil and gas exploration and production company whose shares are traded under a dual primary listing on the Stock Exchanges in London and Dublin. In 1999, the Emirates National Oil Company (ENOC) became the major shareholder in Dragon, when it acquired 69.4% of the shares. The Company?s principal interests are located in the Cheleken Contract Area (previously Block II) in the Caspian Sea, offshore Turkmenistan. Dragon currently produces around 8,000 bpd from two fields in the Cheleken Contract Area. However this will be significantly increased under the proposed re-development plan, which ultimately could achieve production of 80,000 bpd, materially enhancing the economic value of Dragon?s interest.