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RNS Number : 7517M Caspian Sunrise plc 16 January 2023
Caspian Sunrise PLC
("Caspian Sunrise", or the "Company")
Tender Update
Introduction
The Board is pleased to announce that the Caspian Explorer, the Group's
bespoke drilling vessel capable of drilling to depths of 6,000 meters from
shallow water, has been advised it has won a tender to drill a deep well in
the Caspian Sea, with the formal contract expected to be signed by the end of
February 2023.
Further details
The well is scheduled to be drilled in the summer of 2024 and is to be drilled
to a planned depth of 2,500 meters. It will be drilled for the Istay Operating
Company LLP ("IOC"),a Kazakh registered explorer, in which Italy's ENI is a
leading participant. The work is expected to take approximately two months.
The charter rate is expected to be in excess of $150,000 per day with all
mobilisation and demobilisation costs to be borne by IOC.
The tender is subject to the signing of a formal contract. Further details of
the contract will be announced when signed..
Discussions with other parties continue with regard to a separate charter in
2023, which if successful would result in a further announcement.
Comment
Clive Carver, Chairman said
"That a major international oil company considers chartering the Caspian
Explorer to be the most technically and commercially advantageous option for
the development of their field in the Caspian Sea reinforces the board's view
that the Caspian Explorer will be a major contributor to the Group."
Caspian Sunrise PLC
Clive Carver,
Chairman
+7 727 375 0202
WH Ireland, Nominated Adviser & Broker
James
Joyce
+44 (0) 207 220 1666
James Bavister
Andrew de Andrade
Qualified person
Mr. Assylbek Umbetov, a member Association of Petroleum Engineers, has
reviewed and approved the technical disclosures in this announcement.
This announcement has been posted to:
www.caspiansunrise.com/investors (http://www.caspiansunrise.com/investors)
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is now considered to be in the public domain.
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