Maersk Willing to Merge with Brostrom

Oil&Gas Materials 28 August 2008 12:02 (UTC +04:00)

Azerbaijan, Baku, 28 August/ Trend / Danish shipping and oil group AP Moller Maersk said Wednesday it is offering 57 Swedish kronor ($8.90) per share for Swedish tanker company Brostrom, valuing Brostrom at around $565 million, a report posted on the official website of Maersk said.

A merger would create the world's leading product tanker company with a combined owned and long-term chartered fleet of more than 130 vessels, Maersk said

Maersk who also possesses drilling rigs, plans to begin drilling for Russian LUKOIL in Caspian Sea in November. The drilling with the help of Heydar Aliyev drilling rig will be carried out in the Azerbaijani section of the Caspian in D-22 perspective bloc (Yalama).

The depth of exploratory well makes up 2,650 meters. In 2005, LUKOIL drilled first well in Yalama with a depth of 4,400 meters while target depth was 4,500 meters. The drilling revealed small volumes of hydrocarbon.

Drilling rig named after Heydar Aliyev is meant for drilling of wells with a depth of about 9,000 meters under water with thickness of up to 1000 meters. The boundary depth of the Caspian Sea makes up 1025, which means that the drilling rig can operate almost in all depths.