Firstdrill JV Strikes Oil and Gas in Caspian Sea

Firstdrill Ltd has successfully completed the full project management of the exploration well, Centralaya-1, which has yielded a major new oil and gas discovery in the Caspian Sea. The well, which is in water depths of approximately 456 meters, produced a commercial open flow of sweet crude during testing. Firstdrill is contracted by the operator TsentrKaspneftagas (a joint venture between OAO Lukoil and OAO Gazprom), to provide full project management services for the well.

The Firstdrill project managed well, Centralaya-1, is located in the Russian sector of the Caspian Sea and was drilled to a total vertical depth of 4227 meters using the Maersk Explorer Semisubmersible Drilling Rig. The well is on the Tsentrainaya structure and is the first exploration well drilled on the license area.
Firstdrill's services for the successful exploration well included pre-planning, contracting of drilling services, material purchases, and the development of the drilling program, including the establishment of the logistics functions and the execution of the well with rig site supervisors and geologists offshore. The operations also included the successful tests on the newly discovered reservoir.
"We are excited to have been able to play such an important role in a major new Caspian discovery," said Firstdrill Managing Director Peter Redman. "The success of our full project management service for this well is a continuing demonstration of Firstdrill's long track record of successful project management, as well as the outstanding capabilities and experience of the Company and our teams, which we intend to reproduce in the other domestic and international projects in which we are currently involved."

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