SOCAR: Azerbaijan to start new floating drilling rig construction in 2012

Oil&Gas Materials 21 September 2011 13:58

Azerbaijan, Baku, Sept. 21 / Trend E. Ismayilov /

SOCAR will start constructing a new floating drilling rig to drill exploration and appraisal wells in promising structures and deposits in 2012, SOCAR head Rovnag Abdullayev told media on Wednesday.

He said that the decision was made to build at least two rigs.

At present, there is a great need for new drilling rigs in the Caspian Sea as there are several projects related to exploration at different structures and deposits, Abdullayev said.

Today SOCAR is negotiating with companies such as as Total and BP. They have big plans for exploration and production within the new contracts. SOCAR also has a need for new drilling rig. SOCAR intends to conduct operations in the "Umid" field and explore the "Babak" structure.