* Says expects growth rates of 10-15 pct per year to 2015
* On track for production to reach 100,000 bopd in 2015
LONDON Oct 24 Turkmenistan-focused oil firm
Dragon Oil said it was confident of maintaining its 10
to 15 percent target growth rate to 2015, putting it on track to
produce 100,000 barrels of oil per day (bopd) in four years
The company said on Monday that following a detailed review
of its oil fields, it expected to be able to maintain average
production growth of 10 to 15 percent to 2015, having previously
guided the same growth rate for the period to 2013.
"The plateau production of 100,000 bopd is a milestone that
we aim to achieve in 2015 and maintain for a minimum period of
five years," chief executive Abdul Jaleel Al Khalifa said in a
Dragon Oil also said that production could exceed
its new targets should a project to inject water into the wells
to enhance oil output be successful.
Production is expected to reach 70,000 bopd by the end of
this year, the company said, representing a production growth
rate of over 25 percent in 2011, and reversing disappointments
from 2010 when it cut production growth guidance after
Shares in Dragon Oil closed at 517.5 pence on Friday,
valuing the firm at 2.57 billion pounds ($4 billion).
($1 = 0.627 British Pounds)
(Reporting by Sarah Young; editing by Rhys Jones)