Dragon (Holdings), a wholly-owned subsidiary of Dragon Oil, has signed a $30 million (€28.7 million) financial package with ANZ Grindlays Bank of Dubai. It will be a revolving credit facility for up to two years.

The proceeds will be used to fund the development of Dragon's Lam and Zhadanov fields in offshore Turkmenistan, including the drilling of new production wells, the workover of existing wells to increase production and the enhancement of production facilities.