Offshore staff
LONDON — Caspian Sunrise has signed a contract chartering the Caspian Explorer vessel.
The Caspian Explorer is the company's bespoke drilling vessel capable of drilling to depths of 6,000 m from shallow water and is believed to be the only drilling vessel of its type operating in the shallow northern Caspian Sea, with the following operational characteristics:
- operates principally between May and November as the Northern Caspian Sea is subject to winter ice;
- operates in depths between 2.5 m and 7.5 m;
- can drill to depths of 6,000 m;
- typically has a crew to operate the drilling vessel of 20; and
- has accommodation for about 100.
The well is scheduled to be drilled in the summer of 2024 and is to be drilled to a planned depth of 2,500 m. It will be drilled for the Isatay Operating Co. LLP, a Kazakh registered explorer, in which Eni is a leading participant.
The work is expected to take at least two months.
The total amount to be paid under the contract will depend principally on the number of drilling days. Based on the company's expectations, the overall impact is expected to result in net income of about $15 million, spread over the life of the contract.
If the well is successful, the contract provides for a second well to be drilled on broadly the same terms as the first well.
03.07.2023
