The well has a total depth of approximately 4000 meters; the rig has already reached the 500-meter mark.
According to a contract signed earlier this year, Parker would provide drilling services for 4 deep wells in Turkmenistan. Chalyk Energy, a Turkish company with multiple interests in Turkmenistan, is acting as middleman between the Turkmen government and Parker Drilling.
During the oil and gas conference this year in Ashgabat, a representative of Parker Drilling informed that Chalyk Energy would be responsible for all payments to Parker Drilling.
Korpeje is one of the most promising fields of Turkmenistan. At present Korpeje-Kurt Kui pipeline is supplying natural gas to Iran. It is expected that with deeper drilling with the help of the rig provided by Parker, hydrocarbon extraction from the field would increase considerably.
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