Turkmenistan-focused oil explorer Dragon Oil sold nearly 80% more crude oil in the first quarter of the year compared with the same time in 2014, but at a much lower price due to the fall in global oil prices.
The company sold 4.8 million barrels of crude oil over the period at an average price of $40 per barrel.
This compared to 2.7 million barrels sold last year at an average price of $92 per barrel.
In a trading update today, the exploration firm reiterated its full-year targets of reaching a production level of 100,000 barrels per day.
It also said it would spend between $500-$600m on infrastructure and drilling on top of $50-100m on exploration.
Dragon is assessing an approach by its main shareholder Emirates National Oil Co (ENOC) for the remainder of its equity.
