Caspian Sunrise, a Kazakhstan-focused oil and gas exploration and production company, has secured employment in the Caspian Sea for its 2012-built shallow-water drilling barge Caspian Explorer.
.The formal agreement is expected to be signed in late March, with the one-well campaign for the Istay Operating Company LLP (IOC), a Kazakh-registered partnership between Eni and Kazakhstan’s state-run KazMunaiGas, set to begin in the summer of 2024.
The work is expected to take approximately two months at a charter rate in excess of $150,000 per day, with all mobilisation and demobilisation costs to be borne by IOC, Caspian Sunrise said after it emerged as the winner of a tender earlier this year.
The rig was acquired in January 2020 from the Oraziman family in exchange for around 160m shares in the company, equivalent to $25m.
