Dragon Oil Reports 56 Percent Production Increase

Dubai-based independent oil explorer Dragon Oil has reported a 56 percent increase in 2007 gross production over 2006.

The company says it has produced an average of 31,997 barrels of oil per day (bpd), compared to 20,514 bpd in 2006.

Dragon says it aims to accelerate its 2008 development programme to raise production by an additional 25 percent by the end of 2008 through exploration drilling, particularly in Yemen.

By staff writer