Dragon Oil ramps up production

Aim-listed oil and gas explorer Dragon Oil yesterday said it expects the pace of drilling to pick up considerably, as it unveiled a 0.7 per cent rise in production in the first quarter. The company is looking to increase output by 10 per cent this year and between 10 and 15 per cent next year, to reach its target of 100,000 barrels of oil per day by the end of 2015. It plans to spend $1.5bn (£891m) on infrastructure and drilling between 2014 and 2016.