OGEC Krakow Ltd., a member of the PGNiG SA Capital Group (the largest Polish oil and gas exploration and production company), signed a drilling and maintenance works contract with EmbaYugNieft, a Polish-Kazakh Company. Fifty percent of shares belong to Petrolinvest Co. Oil and Gas Exploration Company Krakow Ltd. conducts exploration and drilling in search of oil and gas deposits. It offers a wide range of drilling services providing highly complicated operations in the drilling industry. The company primarily conducts geological, exploratory and production drilling of oil and gas wells for international export. This September OGEC Krakow Ltd. will start drilling for oil and gas in Kazakhstan.EmbaYugNieft has contracted one of the biggest drilling rigs in Europe, N1625, capable of drilling wells up to 12,000 meters deep. The rig was purchased in 2006 with financial support of Company owner, PGNiG SA, and transported from Siberia to Kazakhstan on 120 railway platforms. Once assembled and erected this September, the new rig will be the largest piece of oil drilling equipment in Kazakhstan. Having obtained a Zhubantam-Zhusalisay permit, drilling will be done in the Atyrau region near the Tengiz Field, the sixth largest oil field in the world. The permit allows exploration of the area located 250 kilometers east of the region’s capital, Atyrau, a port city at the mouth of the Urals on the Caspian Sea.National flags of the participating countries – namely Poland and Kazakhstan – were raised in a ceremony on August 4. Investment plans indicate that this will be the first of nine drills scheduled for completion this year. EmbaYugNeft, a company co-owned by Petrolinvest, is expected to invest up to $39 mln this year. “We are working with top professionals. We have succeeded in retaining the services of Kazakhstan’s greatest driller. Yevgeniy Khan, a living legend of the drilling industry, is our subcontractor,” says Stefan Geron, general director of EmbaYugNeft. OGEC Krakow and EmbaYugNieft signed a one-year contract with possibility to extension. The contract covers the drilling of two to four wells up to 5-6,000 meters deep. The drilling rig will be operated jointly by a Polish and Kazakh staff with OGEC Krakow Ltd. employing and training local personnel for extra support. In the last nine years the Republic of Kazakhstan has been the largest market for OGEC Krakow Ltd. In Kazakhstan, the company has cooperated with the biggest and most-recognized oil & gas world operators like Petro Kazakhstan, Kazakhoil Burenie, Kazgermunai, KazMunaiGaz, KKM, Chevron, Orient Petroleum, Caspian Gas, Emir Oil, KazkhOilAktobe, Samek International and Ken-Sary. Eight of the drilling rigs currently in Kazakhstan are from Krakow, operated by nearly 100 Polish OGEC Krakow Ltd. employees and over 600 local personnel on the largest oil fields in the country. The overall, 2006 export value of OGEC Krakow Ltd. works in Kazakhstan has exceeded 100 mln zloty (over $30 mln).
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