OREANDA-NEWS. September 22, 2011. State Oil Company of Azerbaijan (SOCAR) has expanded its idea of solution of floating drilling installations’ deficit in the Caspian Sea.

Today in Baku at the meeting of Caspian-Eurasian Integration Business Club (CEIBC) first Vice –President of SOCAR Khoshbakht Yusifzadeh has reported that the company is going to construct two floating drilling installations.

" We are considering a few variants : to construct the rigs by ourselves, but it will take time, buy a ready rig and bring it to Azerbaijan or buy parts of the rig and assemble it in Azerbaijan ",- Kh. Yusifzadeh noted.

Earlier SOCAR announced the plans for construction or purchase of new floating rig with capacity of well drilling to 7-11.000 metres depth at the depth of water for 1-1.500 metres.