Dragon Oil publishes an update on the status of the drilling rigs in the Cheleken Contract Area in Turkmenistan as follows:

◾ The Neptune jack-up drilling rig has arrived to the Cheleken Contract Area and is being prepared for spudding the Dzhygalybeg (Zhdanov) 21/101 well in mid-January 2014. The rig will be available for nine months and then released. In its place we expect to take delivery of the Mercury jack-up drilling rig, which is scheduled to arrive into the Caspian Sea in 4Q 2014 and will be available for the remainder of the three-year contract term. ◾ The leased platform-based rig ("Land Rig 1") has completed scheduled maintenance and is expected to commence drilling on the Dzheitune (Lam) 22 platform in January 2014. ◾ The contracted platform-based rig ("Land Rig 2") for drilling on the Dzhygalybeg (Zhdanov) A platform has arrived to the Cheleken Contract Area and is being prepared to commence drilling the Dzhygalybeg (Zhdanov) A/102 appraisal/development well in February 2014. ◾ The arrival of the Caspian Driller jack-up rig is expected in mid-2014 due to further delays on the contractor's side. ◾ The contracted platform based rig ("Land Rig 3") is expected to arrive in 4Q 2014. ◾ The jack-up drilling rig is currently completing the Dzheitune (Lam) C/186 development well.

Tags: Dragon Oil Plc