Baku, Azerbaijan, Apr. 20
By Maksim Tsurkov – Trend:
The State Oil Fund of Azerbaijan (SOFAZ) has so far allocated $859.7 million to build a floating drilling rig of next-generation in Azerbaijan, SOFAZ told Trend.
“In the first quarter of 2017, $66 million were allocated for the project," SOFAZ said.
The cost of the project is $1,116.7 million.
SOFAZ has a 90-percent share in Azerbaijan Rigs LLC, which was created for the construction of the new platform. The remaining 10-percent share in the company is owned by SOCAR.
The drilling rig is being built for SOCAR’s needs.