www.dragonoil.com
Dragon Oil is an independent international oil and gas exploration, development and production company. Our principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan. The Group’s headquarters are located in Dubai, United Arab Emirates. Dragon Oil had proved and probable oil reserves as at 31 December 2009 of 617 million barrels and 3.1 trillion cubic feet of gas resources.
Dragon Oil builds exploration team with appointment of Ali Al Hauwaj
Established specialist Ali Al Hauwaj has been hired to head up the firm's exploration team, Dragon Oil (LON:DGO) said today.
The new exploration manager will take up the position this month (February), the company said.
Chief executive Abdul Jaleel Al Khalifa said he was delighted with the appointment.
"Ali is a senior and established exploration specialist with over 30 years of experience. This assignment is in line with our strategy to build our own exploration team and to grow through the acquisition of new exploration assets similar to the farm-in agreement for the Tunisian offshore permit signed last year," he said.
"Developing exploration capabilities will help us transform Dragon Oil into an integrated exploration and production company."
Before this, Al Hauwaj was at Saudi Aramco for more than 30 years, and for the last seven years, he was exploration manager.
His skills were critical in discovering many oil and gas fields in both central and eastern parts of Saudi Arabia, including a number of gas fields discovered onshore and offshore, said Dragon.
Last month, the company confirmed that production increased by 30 per cent in 2011 to an average of 61,500 barrels of oil per day.
Furthermore, it achieved the firm’s 70,000 barrel a day target by mid-December and Dragon achieved an exit rate of 71,751 barrels a day. As a result Dragon generated over US$1 billion in revenues.
In October last year, Dragon revealed that it was buying new exploration acreage offshore Tunisia, through a farm-in deal with Australian firm Cooper Energy (ASX:COE)
Through the deal Dragon Oil can earn a 55 per cent stake in the Bargou exploration permit, by paying 75 per cent of the drilling costs for the Hammamet West-3 exploration well which is expected to be drilled next year.



















