EDC announces renaming of Trident 20 jack-up rig to SATURN

MOSCOW,  March 7, 2012 - Eurasia Drilling Company Limited ("EDC" or the "Company" - LSE: EDCL), the leading onshore and offshore drilling service provider in the CIS, announces that in February 2012 its TRIDENT 20 jack-up drilling rig was renamed SATURN.  

The SATURN is a Keppel FELS CS Mod V cantilever jack-up delivered in 2001, and is capable of operating in water depths to 350 feet and drilling to 26,000 feet. TheSATURN is the highest specification jack-up rig currently operating in the Caspian Sea, with features including three 2,200 hp mud pumps, a 3,000 hp drawworks and a 15,000 psi high-pressure BOP system.

The jack up rig, which was acquired in February 2011 from Transocean, is presently operating in Turkmen waters of the Caspian Sea on a long-term contract with Petronas Carigali (Turkmenistan) Sdn Bhd which will run through 2012.

Eddy Redd, Senior Vice President of EDC’s Offshore Group commented:

“We are very pleased with the performance of the SATURN in its first year under EDC ownership. This high-spec jack-up with its motivated crews has formed an integral part of our offshore operations, and has set a benchmark for jack-up operations in the Caspian Sea.”

Source:Eurasia Drilling Company