EDC awarded multi-year contract for jack-up rigs

BKE Shelf, a subsidiary of Eurasia Drilling Company (EDC), the onshore and offshore drilling service provider in the CIS, won a three-year contract for the provision and management of jack-up rigs NEPTUNE and MERCURY in the Cheleken Contract Area, Turkmenistan in the CaspianSea for Dragon Oil, an international independent oil and gas exploration, development and production company.

The new build NEPTUNE drilling rig is expected to be available in early 4Q 2013 and will provide well drilling services for nine months; the second new build MERCURY drilling rig is anticipated to be available in 4Q 2014 and will provide well drilling services for the remainder of the term.
Dr Alexander Djaparidze, EDC’s CEO, commented, “We are very pleased to have been awarded a multi-year contract by Dragon Oil for our new-build jack-ups NEPTUNE and MERCURY. The award marks continuation of our successful co-operation with Dragon Oil and expands our work scope in the growing CaspianSea market that offers significant exploration and development potential.”
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