Azerbaijan, Baku /corr. Trend S. Aliyev/ The State Oil Company of Azerbaijan (SOCAR) established a special commission with regards to leasing the self-lifting rig Khazar-4 to Timan Oil and Gas PLS for drilling in block No.2 which is located in the Russian section of the Caspian Sea in the contract area Izerbash, a SOCAR source stated on 26 October.
Earlier, the company highlighted that initial talks with the State Oil Company of Azerbaijan (SOCAR) with regards to leasing the self-lifting rig were complete.
The document of Timan Oil and Gas PLS says that SOCAR confirmed its decision to supply the rig to the company Geotermneftgaz, with 80% belonging to Timan Oil and Gas. The company needs the rig for exploration drilling.
Timan Oil and Gas PLS is an independent oil and gas exploration and production company possessing assets in Timan-Pechora region of the Caspian basin.