Conoco to assume 16% of drilling facility expenses

Conoco Azerbaijan has assumed 16% of the expenses for construction of a semi-submersible drilling rig. The facility is to be used for exploratory drilling operations in the “Zafar-Mashal” contract area. Conoco is one of the partners of the project.

Operating the “Zafar-Mashal” contract, Exxon-Mobil concluded an agreement with Maersk Contractors for constructing the rig, which is designed to drill to the depth of 9,140 meters working in 1,000 meters of water. The rig is to be built for three years.*