EDC Selected to drill for Total E&P Russie
MOSCOW, October 1, 2008 - Eurasia Drilling Company Limited (“EDC” or the “Company” - LSE: EDCL) announced award of a 3 year contract from Total E&P Russie (Timan-Pechora Branch) for provision of drilling services on their Kharayaga Project, beginning early 2009.
For the production well drilling phase, Total E&P Russie has selected a 450 metric tonne rig currently being fabricated by EDC, in partnership with LeTourneau, in Kaliningrad, Russia. The rig will be fitted with custom moving and mud processing systems, designed specifically for the project’s drilling pads.
EDC currently provides workover services for Total E&P Russie (Timan-Pechora Branch) under a long term contract, utilizing a 160 tonne mobile rig.
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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”.
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For further information, please contact:
Kim L. Kruschwitz, VP Investor Relations
+44 (0) 207 717 9707
investors.relations@eurasiadrilling.com
October 1, 2008
Some of the views expressed in this document may constitute “forward looking statements” that involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
