OREANDA-NEWS. August 10, 2009. SOGAZ Insurance Group has signed an agreement for drilling works insurance with LLC Gazflot (Moscow), a company engaged in well-drilling on Semakovskoe, Atipayutinskoe and Kirinskoe gas fields under the commission of OJSC Gazprom, reported the press-centre of SOGAZ.

As per the terms of the agreement, SOGAZ will provide insurance coverage of four exploration wells in the Ob Bay and Tazovskaya Guba of the Arctic shelf, and one exploration well on the continental shelf of Sakhalin island during the period of their construction. The agreement also covers the insurance of drilling, maintenance and other down-hole equipment. Besides, SOGAZ will provide civil liabilities insurance for drilling operations.

The insurance of the drilling operations performed with the employment of the self-elevating drilling rig Amazon, floating drilling complex Obsky-1, and Korean semi-submersible drilling rig Doo Sung will be extended for the entire period of works.

The insurer’s aggregate liability limit amounts to more than RUR 5.6 billion.

LLC Gazflot was established in 1994. The company is engaged in construction of facilities for offshore gas fields. Currently, the total number of sea vessels in the company’s fleet of is 8.