Dragon Oil plc, an international oil and gas exploration and production company,announces that it has reached an agreement to extend the contract for the Iran Khazar jack-up rig for a further two years commencing May 2009 . The Iran Khazar rig is currently drilling the first of four wells to be completed by the year-end.
Dr Abdul Jaleel Al Khalifa, Chief Executive Officer, commented:
" I am pleased to announce that Dragon Oil has successfully negotiated an extension of the contract for the Iran Khazar jack-up rig. 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."
