Kazakhstan, Azerbaijan reach agreement on drilling wells with Satti jack-up rig

Economy Materials 26 February 2021 17:51 (UTC +04:00)

BAKU, Azerbaijan, Feb. 26

By Nargiz Sadikhova - Trend:

Kazakhstan’s KMG Drilling & Services and Azerbaijan’s Caspian Drilling Company signed an agreement on drilling wells with the Kazakh ‘Satti’ jack-up rig in the Azerbaijani sector of the Caspian Sea, Trend reports citing the Kazakh Sovereign Wealth Fund, NWF Samruk-Kazyna JSC.

According to the fund’s report, the activity will be carried out in the part of the Caspian Sea where the State Oil Company of Azerbaijan (SOCAR) and British Petroleum (BP) are conducting joint exploration work.

The National Company of Kazakhstan ‘KazMunayGas’ completed the transfer of the ‘Satti’ jack-up floating drilling rig to Azerbaijan on June 19, 2019.

Satti is the first platform built entirely in Kazakhstan. It was built over three years using the US technology at two shipyards. The rig is designed for drilling operations in the Caspian Sea at a depth of 80 meters.

A Kazakh-Azerbaijani team of specialists has been created, which will participate in the drilling and provide technical support.

The parties agreed to transfer the installation in February 2019.