Dragon owner rebuffs pressure over Turkmen output

摘要

London-Emirates National Oil Company, which owns 53.9% of Turkmenistan-focused Dragon Oil, rejected suggestions Friday that Dragon set a bolder target than its production goal of 100,000 b/d, in a spat over ENOC’s bid to buy out minority shareholders. The row came with ENOC trying to buy out the 46.1% of shares it does not own in Dragon, with a view to expanding its upstream profile. Dragon’s management aims to produce 100,000 b/d, on average, in 2016 on a gross basis and to maintain that for at least five years, while ENOC CEO Saif al-Falasi said this week it might be better to aim for a more sustainable 90,000 b/d.