SOCAR to build new rig in Azerbaijan
Construction of a new semi-submersible drilling rig needed by Azerbaijani state oil company SOCAR will begin in September 2013, a source in the oil and gas market said on Tuesday, Trend news agency reported.
According to the source, a contract with a contractor who will build the new rig in Baku will be signed in February-March.
"After the signing of the contract, the contractor will prepare a detailed engineering document by September and all the necessary final work will be completed," the source said.
According to him, construction will start in September at a new shipyard being built by SOCAR in Baku. "The first phase of construction of the plant will end by September, and at the same time the work on the construction of a new drilling rig will start," the source said.
The Caspian Drilling Company Ltd (CDC), in which SOCAR has a 92.44 percent stake, will be the operator of a new drilling company. In particular, the installation will be used for drilling in prospective structures and fields of Azerbaijan, such as "Umid" mine, prospective structure "Babak", "Karabakh", "Ashrafi" and others.
The new rig will be designed to drill wells at a depth up to 8,000 meters and at a water depth of 1000 meters. Construction of the drilling rig, according to the tender offer, will take 3.5 years. It is expected that construction of the facility will be completed in mid-2016.
The budget of the State Oil Fund for 2013 provides for funding for construction of a modern rig. 388.575 million manats will be allocated from the State Oil Fund for implementation of this project.
The CDC is involved in all PSA-sea projects in Azerbaijan, including the opening of the Shah Deniz field, where the CDC has served as the main contractor of the project operator, BP Azerbaijan. The company has extensive experience drilling in offshore fields, and in particular has been actively involved in drilling operations at the Azeri-Chirag-Guneshli fields and the Shah Deniz field. The company operates two semi-submersible drilling rigs "Dede Gorgud" and "Istiqlal".
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