EDC rigs on long-term contracts in Caspian region

Eurasia Drilling Co. (EDC) has issued an update on its offshore drilling operations in the Caspian Sea.

Jan 29th, 2014

Offshore staff

MOSCOWEurasia Drilling Co. (EDC) has issued an update on its offshore drilling operations in the Caspian Sea.

TheSaturn jackup continues operations in the Turkmen sector for Petronas Carigali under a new three-year contract that started last January.

This month, theAstra jackup started a three-year contract to work for Lukoil in the Russian sector.

EDC’s newbuild jackupNeptun is currently contracted to Dragon Oil in the Turkmen sector. Once the program is completed, the rig will work for Lukoil under a newly-agreed five-year deal.

Dragon has also contracted EDC’s fourth jackup, the newbuildMercury. Construction is expected to be completed toward the end of this year.

Additionally, EDC will continue to provide drilling services on Lukoil’sYuri Korchagin field ice-resistant platform in the Russian sector year-round, drilling extended-reach wells.

EDC’s offshore contract backlog is currently about $1.2 billion.

01/29/2014

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