New company - new goals
As known, over many years one of the world giants in the field of oil related services - Parker Drilling provides drilling services for Karachaganak Petroleum Operating (KPO), developing one of the largest fields of raw hydrocarbons in Kazakhstan.
In 2017 KPO announced tender for supply of drilling rigs for works at Karachaganak in 2018-2022.
KMG Drilling & Services LLP held negotiations with Parker Drilling for participation in the tender, and companies submitted joint tender application to KPO.
As a result of the tender, the Agreement for supply of onshore drilling rigs was concluded in February 2018.
Drilling of as many as 20 producing wells and 4 injection wells is planned for 3 years under the Agreement.
Approximately 140 employees will be involved in the project, and 92% of them include Kazakhstani specialists and workers.
Commencement of operations is planned for summer 2018.
Implementing previous agreements, the package of documents was signed on March 14, 2018 in Astana, according to which KMG Drilling & Services LLP was assigned with 49% of share in KMG Parker Drilling Company LLP (KPDC), which will provide drilling services as per the Agreement.
In accordance with the incorporation documents, the core commercial activity of KPDC includes provision of drilling services in oil&gas industry onshore, offshore and inland water; maintenance, current repair, overhaul and well service, development and testing of oil and gas wells, rendering other related services.
This project has a great value. Experience of working through KPDC provides opportunities to adopt the best practices, expertise, technologies and control systems, and, in perspective, to effectively operate at other oil&gas projects in Kazakhstan as a drilling contractor. Along with that, this event has a special meaning, taking into account that the Kazakhstani company succeeded in a breakthrough project in the market of oil related services and confirmed status of equal partner with the foreign company of the highest level.
