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Our offshore division constructs oil and gas exploration and production wells in waters with depths of up to 350 feet in Russian, Kazakh and Turkmen waters of the Caspian Sea. We provide our offshore drilling services with our two jack-up rigs, the ASTRA and the SATURN. Near the end of 2009, we began to provide platform drilling services in the Northern Caspian Sea to LUKOIL for its Yuri Korchagin development.
Offshore our client base includes LUKOIL, Dragon Oil, Petronas Carigali, CMOC (a joint venture between Shell, KazMunayTeniz and Oman Pearls), N Operating Company (a joint venture between KazMunayGas , ConocoPhillips and Mubadala Development Company), KazMunayGas affiliates and others.
We entered the offshore business by acquiring Lukoil Overseas Orient Limited and Lukoil Shelf Limited from Lukoil in December 2006, the main asset of which was the jack-up rig ASTRA. The rig is a Baker Marine (BMC) 150 H cantilever jack-up capable of operating in water depths to 150 feet and capable of drilling to 15,000 feet.
In February 2011, we acquired our second jack-up rig the SATURN (formerly Trident 20) from Transocean. The SATURN is a Keppel FELS CS Mod V cantilever jack-up capable of operating in water depths to 350 feet and capable of drilling to 26,000 feet.
In 2010 we contracted Lamprell Plc to build a new jack up rig for our operations in the Caspian Sea. The new jack-up rig is a LeTourneau designed Super 116E self-elevating Mobile Offshore Drilling Platform, designed to operate in water depths of up to 350 feet and will have a rated drilling depth of 30,000 feet. Construction is expected to be completed at the end of 2012.
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