Kazakhstan’s Satti Drilling Rig Will be Used for Drilling Wells in the Azerbaijan Sector of the Caspian Sea

Source Press Release
Company KazMunayGasSOCAR 
Tags Exploration, Upstream Activities, Strategy - Upstream
Date February 27, 2021

On 25 February 2021, in Dubai, JSC NC “KazMunayGas” (KMG) and the State Oil Company of the Azerbaijan Republic (SOCAR) agreed to jointly operate Satti, a jack-up self-elevating drilling rig (hereinafter, JUR), in the Azerbaijan sector of the Caspian Sea.

The joint venture agreement between KMG Drilling&Services LLP (a KMG subsidiary) and Caspian Drilling Company Ltd (a SOCAR subsidiary) provides for the drilling of 2 exploration wells and 1 optional well in the Shallow Water Absheron Peninsula structure in the Azerbaijan sector of the Caspian Sea using the JUR. Akhmetzhan Yessimov, Head of  Samruk-Kazyna JSC, and Alik Aidarbayev, Chairman of the KMG Management Board, attended the signing ceremony.

Satti JUR is the first offshore drilling rig built in Kazakhstan. The JUR is designed for drilling in the Caspian Sea at a depth of up to 80 metres.

Let us recall that on 19 June 2019, the JUR was towed to Baku under the trust management contract between KMG Drilling&Services LLP and Caspian Drilling Company Ltd. The contract provides for modification of the drilling rig allowing to ensure safe and efficient drilling of exploration wells more than 6,000 metres deep. Modification of the JUR is currently being finished.

As noted by KMG, participation in such projects makes it possible to increase the competitiveness of Kazakhstan’s oil and gas sector and gain experience in offshore drilling.

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