SOCAR’s new rig to ensure production at Azerbaijan’s new fields

Oil&Gas Materials 6 June 2013 11:49 (UTC +04:00)

Azerbaijan, Baku, June 6 / Trend E. Ismailov /

The construction of a new floating drilling rig is expected to ensure the launch of gas production at 'Absheron' field in 2020, first vice-president of SOCAR (State Oil Company of Azerbaijan) Khoshbakht Yusifzadeh told journalists on Thursday.

According to him, the second new modern rig will be ready for use as early as 2017.

Referring to the gas production peak in Azerbaijan Yusifzadeh noted that this process can be observed within a few years, in particular with the phased exploitation of new deposits. The gas production peak may fall on the period after 2020.

On Tuesday, Caspian Drilling Company (CDC, 92.44 percent owned by SOCAR) and Singaporean Keppel signed an agreement on construction of a new rig for works in the Caspian Sea.