BAKU, Azerbaijan, April 12. UBOC and Caspian Oilfield Service (COS) have signed a contract extension for the Neptune jack-up rig through the end of 2027, Trend reports citing UBOC.
"Neptune is currently drilling a subsea appraisal well on the southern flank of the Umid field at depths exceeding 7,000 metres — the deepest well in the history of SOCAR and the Umid field. This is also the first-ever subsea drilling operation by a jack-up rig in the Caspian region.
The experience gained through this project is making a significant contribution to accelerating offshore gas production, deepening our understanding of existing reserves, and strengthening the knowledge and skills of UBOC's drilling engineering team in subsea operations.
As we move into the next phase of Umid's development, our partnership with COS remains a key part of how we deliver," UBOC said.