Rig 257 Drills Third Well In The Caspian Sea

Parker Drilling Company's Rig 257, the largest arctic barge drilling rig in the world, has mobilized and begun drilling its third well in the Caspian Sea. The Kashagan East #2 is a delineation well located six miles northwest of the first well. The rig is on a three-year contract with OKIOC.

"We are excited to be a part of this very important drilling project," remarks Robert L. Parker Jr., president and chief executive officer. "The Caspian area is a demanding and very harsh environment, and we are proud of our safety and environmental commitment, as well as the performance of our rig crew and management team."

The OKIOC consortium includes BG International, BP Amoco, Eni, ExxonMobil, Inpex, Phillips Petroleum Company, Shell, Statoil, and TotalFinaElf.


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