28 January 2019, KazMunayGaz (KMG) and SOCAR, the national oil company of Azerbaijan, signed a Memorandum of Understanding (MoU) on future co-operation in the petroleum industry. The MoU provides for a broad co-operation between the companies, including exploration in the Caspian Sea, joint study of geological data on hydrocarbon exploration, as well as in the fields of logistics and trading of oil and refined products.   As the first specific co-operation project, the Memorandum provides for relocation to Baku and subsequent upgrade of the Satti jack-up owned by KMG. It is planned that the rig will be used in SOCARâs drilling operations in the Azeri sector of the Caspian Sea.  Additionally, a Protocol of Intent was signed between SOCARâs Marketing and Economics Operations Department and KazMorTransflot, Kazakhstanâs national maritime company, on co-operation in the field of hydrocarbon transportation.  Background Information  17 April 2015, the newly built Satti jack-up rig left the Ersai dockyard in the Kuryk village on the Caspian coast. The rig, the first of this type to be built in Kazakhstan, is capable of operating in 5-80 m of water and drilling to 6,000 m.   The jack-up was ordered by KMG Drilling & Services (a KazMunayGaz company, formerly Teniz Burgylau) in July 2012. It has been built by a consortium comprising Ersai Caspian Contractor and Caspian Offshore & Marine Construction LLP (formerly Keppel Kazakhstan Ltd.). Ersai Caspian Contractor LLP is a 50/50 joint venture between ERC Holdings (Kazakhstan) and Saipem International B.V., a wholly-owned subsidiary of Saipem S.p.A. (Italy), an ENI company. Caspian Offshore & Marine Construction LLP is 50/50% owned by Singaporeâs Keppel Corp. and KazStroyService.
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