SOCAR sets time frame for new floating drilling rig
Azerbaijan, Baku, Nov. 15 / Trend , E.Ismayilov /
The State Oil Company of the Azerbaijan Republic (SOCAR) plans to complete construction of a new floating drilling rig in Azerbaijan by late 2014, a SOCAR source told Trend.
The source said the work on creating a new drilling rig is being carried out in accordance with the plan, whereby construction work could begin in June or July next year.
Caspian Drilling Company Ltd (CDC), of which SOCAR has a 92.44 per cent stake, will act as a sun contractor on behalf of SOCAR while construction will be carried out by BosShelf.
"Most likely, the most modern equipment will be of American manufacture and used in the construction," the source said.
He said a platform of equipment which will be used by around a dozen companies will serve as a base for construction.
Earlier SOCAR made a concerted decision to invest in building a new rig of the last generation, through which it will be possible to drill exploratory and development wells on the various structures to depths of 1000 metres. Today, the job is to build one floating drilling rig followed in the future by a second one.
There are many promising assemblies in the Caspian Sea, on which to conduct exploratory drilling. A new rig that can operate in deep water is essential for this purpose.