Dragon production up 6% in 2006

ISEQ-listed exploration company Dragon Oil saw a 6% increase year-on-year in gross production in 2006, with an average of 20,514 bopd (barrels of oil per day).

With the average realised price per barrel at $61.30 in 2006, up from the 2005 figure of $48.60, and four development wells completed during the year, the company hopes its financial results, due to be published in March, will be positive.

Chairman and CEO Hussain Sultan said: “Increasing development activity, improving production and building our infrastructure for the future have been our main focus in the second half of 2006.

“The company’s production levels continue to increase and I am optimistic that we can consolidate on these improvements in 2007”.