GSP Offshore to provide Offshore Drilling and Support Services for Gazprom Neft

March 12, 2013

GSP Jupiter

Operations are scheduled to start at the beginning of June and will be carried out in Dolginskoye oil field, located in the Pechora Sea, in the south eastern part of the Barents Sea, the continental shelf of the Russian Federation.

MODU GSP Jupiter shall perform the drilling, logging, completion and testing of North-Dolginskaya № 3 well. A fleet of four offshore support vessels including two owned by GSP will assist the rig during the drilling operations scheduled in the Pechora Sea.

GSP Jupiter is currently being mobilized to operate offshore Tunisia, to drill Hammamet West-3 within the Bargou Exploration Permit.

“It is well known that the exploration of Arctic fields is more technically challenging than any other environment. So this project in the Pechora Sea comes as a recognition of our expertise in drilling operations and marks GSP`s debut in the Arctic offshore operations. Today, GSP counts on a team of highly trained employees, with over 30 years experience in the drilling industry. Since 2004, our company has invested 1.35 billion USD (approx. one billion EUR) in the acquisition and modernization of its vessels and drilling rigs, including the extensive upgrade of GSP Jupiter, which is now ready to face the challenges of the harsh weather conditions, said Gabriel Valentin Comanescu, President and CEO of Grup Servicii Petroliere”

“The development of offshore projects is a strategic priority of Gazprom Neft. Rig selection is one of the major milestones in the project implementation process that the company joined a few months ago. We have got actively involved in the work and within a short period of time we have been able to complete rig contracting process, that usually takes much more time. Continuing survey works at Dolginskoye oilfield, Gazprom Neft will extend its competence in the execution of offshore projects, which in the future will become a framework for the development of the whole industry”- declared Vadim Yakovlev – Deputy Chairman of the Management Board of Gazprom Neft.

REFERENCE DATA:

Dolginskoye oilfield is located in the center of the Pechora Sea, 120 km south of Novaya Zemlya Archipelago and 110 km north of the continental shore. It was discovered in 1999. The water depth in the oilfield area is aprox. 35-55 meters. 2D seismic survey works on an area of more than 11,000 linear km, as well as 3D seismic surveys within an area of 1,600 sq. km have been performed. Drilling of three exploration wells – two wells on North-Dolghinskoye field and one on South-Dolghinskoye field – has already been completed. At the moment, the recoverable reserves of the oilfield are estimated at more than 200 million tonnes.

GSP Jupiter is an offshore drilling platform upgraded in 2007. The jack-up rig can perform works in difficult climatic conditions of the northern seas. The rig is equipped with modern main and auxiliary drilling equipment, means for control of technological processes and corresponds to both Russian and International requirements of industrial and fire safety, and also the environmental protection.

GSP Offshore (Grup Servicii Petroliere S.A.) is an integrated service provider to the Oil & Gas, Renewables and Telecommunications Industries, covering Fabrication, Jack-Up Drilling Rigs, Subsea Construction & Installation Vessels, Transportation & Trenching. The company is a member of the International Association of Drilling Contractors (IADC). The GSP QHSE Management system has been successfully audited and certified as complying with standards and requirements of the International Safety Management Code. – www.gspoffshore.com

Gazprom Neft is the fifth largest Russian oil company by crude oil production and is ranked in the top twenty globally according to proven hydrocarbon reserves under the SPE (PRMS) classification, with an oil equivalent in excess of 1 billion tonnes.  The company operates in the largest oil and gas regions in Russia: Khanty-Mansi Autonomous Okrug, Yamalo-Nenets Autonomous Okrug, and Tomsk, Omsk and Orenburg Regions, and has oil production operations outside of Russia as well.  -  www.gazprom-neft.com

Further information:
Radu Petrescu – Chief Communications Officer
email: radu.petrescu@gspoffshore.com
Tel: +40 21 308 0219