Dubai-based oil exploration and producing company Dragon Oil has announced that it has agreed a two-year extension for its Iran Khazar jack-up rig contract.
The company, controlled by oil giant ENOC, stated that the contract will commence in May.
“I am pleased to announce that Dragon Oil has successfully negotiated an extension of the contract for the Iran Khazar jack -up rig,” Dr Abdul Jaleel Al Khalifa, Chief Executive Officer said.
“Despite a limited availability of rigs in the Caspian Sea, we managed to secure the rig we have been using for a number of years and will continue to use for another two years to ensure that our drilling programme remains on track,” he added.
Dragon Oil has been in the news recently over irregularities in their contracts department. An investigation was launched and the company has taken action against a number of former employees.
