Baku and Paris to share a billion in Caspian Sea

Azerbaijan has a very large hydrocarbon potential. Most of the major oil and gas fields and prospects is located in the Caspian Sea. Accordingly, drilling rigs are needed for geological exploration and drilling of wells. Currently available drilling in Azerbaijan don’t cover the demand on them. That is why it was decided to build a floating drilling unit of a new generation.

The Azerbaijani sector of the Caspian Sea has great prospects. Especially because there are more than 150 structures, and more than at 80 of them drilling was not carried out. This opens up great opportunities - to strengthen the energy security of the country, to increase export capacity and increase revenues from the sale of hydrocarbons.