News
CDC and KMG NC

“Satti” JUDR left the Ersay port of the Republic of Kazakhstan and arrived to the marine supply and logistics base of "Caspian Drilling Company Limited" LLC (CDC) on June 20, 2019 in accordance with Trust Management Agreement which has been signed on February 16, 2019 by General Director Farid Akhundov on behalf of CDC and General Director Andar Shukputov on behalf of "KMG Drilling & Services" and which has been concluded within the framework of the Memorandum of Understanding (MoU) for Mutual Cooperation signed between SOCAR and National Company "KazMunayGas" JSC on January 26, 2019 in Baku.

It is reported that pursuant to the terms of the Agreement, the upgrade of the "Satti" JUDR will be carried out by CDC which has extensive experience in the construction and upgrade of drilling rigs. The rig will be capable of safe and efficient drilling of exploration wells with a depth of more than 6,000 meters and it will have increased competitiveness in the field of drilling services in the Caspian Sea after completion of the upgrade which is expected to be finalized until the end of this year.

Upon the completion of the upgrade work, it is planned to involve the drilling rig in the operations in the Absheron (SWAP) structure jointly operated by BP and SOCAR, Umid-Babek block, as well as in other projects in the Caspian Sea. During the operation period, “Satti” JUDR will be under CDC management.