Saipem and Karachaganak Petroleum Operation form SaiPar Drilling

Jul 25, 2000 02:00 AM

Parker Drilling signed a letter of authorisation with their joint venture partner Saipem to provide six rigs to Karachaganak Petroleum Operation. The two companies have formed a joint venture company named SaiPar Drilling to conduct the work and provide five of the six rigs.
Operations are scheduled to commence in December. The three-year contract has three one-year options. The rig mix will include three drilling and three workover rigs. "We are thrilled with the award of the contract to SaiPar and are eager to get started on the project," said Robert L. Parker Jr., president and CEO officer for Parker Drilling. "This contract is a positive indication that work for international land rigs is improving and a welcomed award for Parker Drilling and our partners."

The work will be for the development project being undertaken by the Karachaganak Integrated Organisation (KIO) in Aksai, Western Kazakhstan. The project will include workover, re-completion, and new development drilling operations. The 15 x 30 km field was discovered in 1979 and is located in the Burlinsky District I in north-west Kazakhstan. The nearest towns are Uralsk, Kazakhstan, and Orenburg, Russia, at 120 km and 280 km from the field respectively.
A company base for SaiPar will be established in Aksai about 30 km from the field. Limited production of the field began in 1984. To date more than 250 wells have been drilled in the field, including exploration, appraisal, production, and observation wells.
Parker Drilling has additional drilling projects in the region including the world's largest barge drilling the Kashagan East well for the consortium OKIOC in the north-east shallow waters of the Caspian Sea. OKIOC recently announced positive results from initial well tests. Also, Parker currently operates two labour contracts and one land rig for TengizChevroil in Kazakhstan.
A second rig will commence drilling operations for TengizChevroil in Kazakhstan in August with a third new build rig starting operations for TengizChevroil in early 2001. A fourth rig is currently working for JNOC in Kazakhstan and will move to Russia to begin a long-term contract in September.

Parker Drilling is a Tulsa-based energy service company specialising in barge and offshore drilling and workover services, international land drilling, and specialised oil tool rentals. The company employs more than 3,000 people world-wide.

Source: Bridge News via Newspage
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