Parker to provide Sakhalin drilling package

The design of a drilling package for Sakhalin-1 Arkutun-Dagi offshore platform will be done by Parker Drilling Co.

Offshore staff

HOUSTON --The design of a drilling package for Sakhalin-1 Arkutun-Dagi offshore platform will be done by Parker Drilling Co. Parker will design the package to include derrick, pipe storage, structure, well control, and mud system to integrate with the main topsides design by Sakneftegaz Engineering LLC.

Arkutun-Dagi is one of three offshore fields to be developed by the Sakhalin-1 project. Arkutun Dagi, Chayvo, and Odoptu fields combined reportedly have recoverable reserves of 2.3 Bbbl of oil and 17.1 tcf of gas. All three fields are being developed by the Sakhalin-1 Consortium and operated by Exxon Neftegas Ltd.

Arkutun-Dagi is approximately 15.5 mi (25 km) east of the Chayvo field offshore Sakhalin Island.

08/05/2008

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