Dragon Oil to invest $ 30 million in Cheleken field

Nov 15, 1999 01:00 AM

Turkmenistan's President Saparmurat Niyazov and Dragon Oil head Husein Sultan signed on November 10 a production-sharing agreement for the Turkmen shelf of the Caspian Sea for 25 years.
Dragon Oil plans to invest $ 30 million in the upgrading of production capacities at Cheleken in the nearest future. Over that period, the company plans to produce 80 million metric tons of oil. The share of the Turkmenistan government will be $ 4.7 billion.

Source: TURKMEN PRESS via NewsBase
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