Moscow, March 07, 2012

EDC announces renaming of Trident 20 jack-up rig to SATURN

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MOSCOW, March 7, 2012 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore and offshore drilling service provider in the CIS, announces that in February 2012 its TRIDENT 20 jack-up drilling rig was renamed SATURN. 

The SATURN is a Keppel FELS CS Mod V cantilever jack-up delivered in 2001, and is capable of operating in water depths to 350 feet and drilling to 26,000 feet. The SATURN is the highest specification jack-up rig currently operating in the Caspian Sea, with features including three 2,200 hp mud pumps, a 3,000 hp drawworks and a 15,000 psi high-pressure BOP system.

The jack up rig, which was acquired in February 2011 from Transocean, is presently operating in Turkmen waters of the Caspian Sea on a long-term contract with Petronas Carigali (Turkmenistan) Sdn Bhd which will run through 2012.

Eddy Redd, Senior Vice President of EDC's Offshore Group commented:
"We are very pleased with the performance of the SATURN in its first year under EDC ownership. This high-spec jack-up with its motivated crews has formed an integral part of our offshore operations, and has set a benchmark for jack-up operations in the Caspian Sea."

EDC is the largest provider of onshore drilling services in Russia, as measured by the number of meters drilled, providing onshore integrated well construction services and workover services. In addition, the Company provides offshore drilling services in the Caspian Sea. The Company offers its onshore integrated well construction services and workover services to local and international oil and gas companies primarily in Russia and its offshore drilling services to Russian and international oil and gas companies in the Russian, Kazakh and Turkmen sectors of the Caspian Sea. The Company is traded on the London Stock Exchange under the symbol "EDCL".

For further information, please contact:

Kim L. Kruschwitz, VP Investor Relations
+44 (0) 207 717 9707

Hudson Sandler
Andrew Hayes/ Maria Ignatova
+44 (0)20 7796 4133

07 March 2012

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