Azerbaijan, Baku, June 14 /Trend E.Kosolapova/
Kazakhstan National Petroleum Company KazMunaiGas (KMG), together with the Korean Consortium Caspian oil project commissioned a submersible drilling rig, KMG said on Thursday.
Submersible drilling rig was called Caspian Explorer.
This installation is the first offshore drilling rig, built in Kazakhstan. It is designed to work in shallow water (2,5-5,5 m) with a maximum drilling depth of 6000 meters.
The agreement reached earlier between the KMG and the Korean consortium, provides the construction of offshore drilling rigs for exploratory drilling by the consortium.
Production facilities of Kazakhstan JSC Caspian Contractors Ersai were used during the construction.
Under the agreement, Teniz Burgyla - 100 per cent subsidiary of JSC KazMunayTeniz (KMT) became the operator of offshore drilling rigs under the trust agreement.
A consortium of Korean companies is made up of KNOC (Korea National Petroleum Corporation State) - 35 percent stake in the consortium. The rest is distributed among the major private South Korean corporations such as SK Corporation (25 percent) and LG International Corp. (20 percent). Samsung Corp. and Daesung Industrial Co. Ltd. owned by another 10 percent.
KazMunaiGas - Kazakhstan's national operator for exploration, production, processing and transportation of hydrocarbons. Some 100 percent of shares ofKazMunaiGas is owned by National Welfare Fund Samruk Kazina.
"Offshore Oil Company KazMunaiTeniz is a 100 percent subsidiary of KazMunaiGas.
KazMunaiTeniz is a 100 percent subsidiary of KazMunayGas.