Parker Drilling Rig 249 to Drill in Tengiz

Parker Drilling Co.'s modification of Rig 249 has been completed and the rig is on schedule to leave New Iberia, Louisiana to begin drilling in Tengiz for Tengizchevroil in August. The rig is contracted under a long-term agreement to Tengizchevroil (TCO), a limited liability partnership that includes Chevron, ExxonMobil, KazakhOil, and Lukoil.

The upgrade and modification of Rig 249, which previously operated in Colombia, were completed at Partech, Parker's manufacturing facility in New Iberia. All major rig components and systems, including the drawworks, mud system, mud pumps, and power package, were either replaced or refurbished. A winterization package was added to the rig in order to operate in the arctic conditions prevalent in Kazakhstan.

Parker Rig 249 is an E-3000 drilling rig with depth capabilities in excess of 30,000 ft. The rig's innovative design includes cylindrical mud tanks and a state-of-the-art moving system that is designed to move the rig to a new location within three days.

"Rig 249 is an integral part of the expansion of activity in Tengiz and evidence of Parker's successful alliance with Tengizchevroil," says Bob Parker Jr., president and chief executive officer of Parker Drilling. "It's also evidence that the future demand for additional drilling equipment in Kazakhstan is promising."

Parker first entered into a contract agreement with Tengizchevroil in 1993 to provide base management, logistics support services, and contract labor for two rigs owned by TCO. In 1997, the contract was extended on a long-term basis and a Parker rig was added to the services. That same year, Parker entered into a joint venture, AralParker, with a local Kazakhstani company in order to promote future expansion in Kazakhstan. Rig 249 is the second Parker-owned rig provided as part of this agreement. A third Parker rig is scheduled to commence drilling in Tengiz for Tengizchevroil in January 2001. The rig will be a new-build and will begin construction at Parker's Partech facility in New Iberia in July.

Rig 249 was moved to Houston on May 27 where it is being loaded on a ship and will be transported to St. Petersburg, Russia. From St. Petersburg, the rig will travel via train to the Tengiz Field in western Kazakhstan. The entire trip is scheduled to take approximately 90 days.

In addition to Rig 249 and the other work for Tengizchevroil in Kazakhstan, Parker operates Rig 257 for OKIOC in the Caspian Sea.

Edited by Dev George