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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Dragon Oil | LSE:DGO | London | Ordinary Share | IE0000590798 | ORD EUR0.10 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 798.50 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:9882Q
Dragon Oil PLC
16 October 2003
PRESS RELEASE
DRAGON OIL PLC
Dragon Oil Plc ("Dragon" or the "Company")
DRAGON AND PETRONAS AGREE TO COOPERATE IN TURKMENISTAN
Dragon announces that its subsidiary Dragon Oil (Turkmenistan) Limited ("DOTL")
has signed a Memorandum of Understanding ("MOU") with PETRONAS Carigali
(Turkmenistan) Sdn Bhd ("PETRONAS"), a subsidiary of PETRONAS of Malaysia.
The objectives of the MOU are to explore for possible cooperation opportunities
within both companies' operational and marketing activities in Turkmenistan,
such as in drilling, procurement and gas utilisation, with the view of improving
efficiencies and reducing costs.
The MOU identified specific areas of cooperation, including but not limited to,
gas development, transmission, marketing and sales of gas, drilling services,
and field operations and logistics.
The Chairman Hussain M. Sultan said:
"This MOU is an opportunity for Dragon to work closely with our neighbours,
PETRONAS, in the Caspian, to develop and plan mutually beneficial operational
strategies, thereby enhancing both of our field operations. We have decided to
explore those areas of cooperation which would exploit the existing synergies
between our two companies. We, Dragon, have significant gas reserves and are
very keen to develop these along with our crude oil production and we can see
the benefits of development of gas with PETRONAS."
Enquiries:
Citigate Dewe Rogerson (+44 207 638 9571)
Martin Jackson
Dated 16th October 2003
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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