Sunday 22 April 2018

Dragon Oil downgrades 2013 production growth

Turkmenistan-focused oil company Dragon Oil downgraded slightly its outlook for production growth this year to between 9pc and 10pc from previous guidance of the lower end of 10pc to 15pc.

The company said on Tuesday that production growth this year would be lower as a result of it having drilled fewer wells.

Dragon Oil added that it remained on track to grow production between 10pc to 15pc in 2014 and 2015.

Earlier this year, it warned that 2013 production would be at the lower end of its target for annual output growth of between 10pc to 15pc.

Reuters

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