SOCAR and KazMunayGas Daughters Sign and Agree

KMG Drilling & Services LLP and Caspian Drilling Company Ltd signed a trust management agreement for a self-elevating floating drilling rig (SEFDR), reports KazMunayGas NC.

“On February 16, 2019, Astana hosted a meeting of the Chairman of the Board of NC KazMunayGas JSC Alik Aydarbayev with the President of the Azerbaijan State Oil and Gas Company SOCAR, Rovnag Abdullayev. During the visit, an agreement was signed on trust management of a self-elevating floating drilling rig (between the affiliated companies of the parties – KMG Drilling & Services LLP and Caspian Drilling Company Ltd,” the report says.

The main purpose of the contract is the operation of SEFDR on projects implemented by the Azerbaijani side. Thus, one of the projects is the use of SEFDR in the Absheron structure developed by British Petroleum.

Within the framework of cooperation, the modernization of SEFDR is also foreseen, which will ensure safe and effective drilling of exploration wells with a depth of over 6 thousand meters. In addition, Kazakhstani specialists will participate in drilling and provide technical support during the operation of SEFDR in the Azerbaijani sector of the Caspian Sea. On January 26, 2019, A.Aydarbayev and R.Abdullayev signed a Memorandum of Understanding between KazMunayGas and SOCAR in Baku.