Dublin-and London-listed exploration company Dragon Oil is to seek a higher performance specification drilling rig for its Cheleken exploration field in Turkmenistan.
The company said it has decided not to renew the contract for the CIS 1 platform-based rig and is instead looking for a rig that can drill slanted wells which it says will lead to higher productivity.
Dragon said it hoped to have secured a new supplier by the second half of this year.