Turan Drilling & Engineering Co. LLC, a joint venture between KCA Deutag and Azerbaijan’s SOCAR AQS LLC, secured a $500 million contract for operations and maintenance of seven platform drilling rigs operated by BP Plc in the Caspian Sea, SOCAR AQS head said April 18.
Ramin Isayev told reporters that the contract had been awarded to Turan for five years with two one-year extension options. In this case its cost will rise to $700 million, he said. Turan will start work in May.
Isayev said the drilling rigs are at platforms used for production of oil and gas at Azeri, Chirag and Guneshli oil fields as well as Shah Deniz gas field in the Azeri sector of the Caspian Sea operated by BP-led consortium, where Azeri state energy company SOCAR is a member.
Operators in the Permian are utilizing technologies offered by service companies to improve well performance, while incorporating their own talents and knowledge gained from peers and past experience.
Marty Thalken, chairman and CEO, Protégé Energy, says the Lower Eagle Ford is the company's focus right now , but the Upper Eagle Ford could look more inviting.
Chesapeake is cutting costs and shaving nonproductive time by opting to self-source sand instead of using third-party suppliers.