7th Jun 2007 11:11
Dragon Oil PLC07 June 2007 7 June 2007 PRESS RELEASE DRAGON OIL plc Dragon Oil Plc ("Dragon Oil") PRESIDENT OF TURKMENISTAN OFFICIALLY COMMISIONS NEW PROCESSING FACILITY Highlights • On 5 June in an official opening ceremony, the President of Turkmenistan, Gurbanguly Berdymuhammedov, commissioned Dragon Oil's new onshore 50,000 barrels of oil per day processing facility ("NPF"). • Mr Hussain Sultan, chairman and chief executive of Dragon Oil, held important discussions with President Berdymuhammedov in respect of Dragon's participation in future energy projects in Turkmenistan. Hussain M. Sultan commented: "I would like to thank President Berdymuhammedov for his hospitality during ourvisit to Turkmenistan and honouring us with the official commissioning of theCompany's new processing facility. I would also like to thank him for theattention and support that Dragon Oil has received, and continues to receive,from the government of Turkmenistan. Our discussions were very helpful andproductive and we look forward to working closely with the President and theTurkmen people. We greatly value the partnership with the Turkmenistan Government and I amconfident that our close relationship will continue in connection with a rangeof different projects. Dragon Oil is committed to a large investment into thecountry and in particular I expressed our readiness to the President toimplement a project for the construction of the infrastructure required tocommercialise our gas resources. We hope to make progress in the discussionswith the government in the coming months." Details Following Dragon Oil's announcement of 5 March 2007 regarding the operationalcommissioning of the NPF, Hussain M. Sultan met with President Berdymuhammedovfor the official commissioning ceremony for the NPF on 5 June in Hazar,Turkmenistan. After the President symbolically cut the ribbon to mark theopening of the NPF, he met with Mr. Sultan privately for discussions on thecurrent operations and future prospects of Dragon Oil within Turkmenistan. Among other items, President Berdymuhammedov and Mr. Sultan discussed thedevelopment of the gas resources in the Cheleken Contract Area, for the mutualbenefit of both Dragon Oil and the Turkmenistan Government. PresidentBerdymuhammedov stated that he envisaged a long-term programme for thedevelopment of the energy resources within Turkmenistan, and specificallyoffshore, and that this would require substantial investment by foreigncompanies like Dragon Oil. The President cited Dragon Oil as one of thecountry's most reliable and highly-rated partners and congratulated allparticipants for the successful construction of the NPF. Ends Citigate Dewe Rogerson (+44 20 7638 9571)Media enquiries: Martin Jackson / George CazenoveAnalyst enquiries: Nina Soon This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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