21 Jan 2010 18:52

Eurasia Drilling plans to boost drilling 4% in 2010

MOSCOW. Jan 21 (Interfax) - Eurasia Drilling Company (EDC) plans to boost drilling 3.9% to 3.9 million meters in 2010, the oilfield services company said in a statement.

EDC drilled 3.75 million meters in 2009.

The company does not anticipate major changes in the client base this year. It expects to increase the volume of work performed for Lukoil in Western Siberia, but Lukoil orders will account for 62% of the company's portfolio, down slightly from 63% in 2009.

A subsidiary, BKE-Shelf, has leased the Astra offshore drilling platform for all of 2010. The company leased Astra for nine months in 2009.

BKE-Shelf plans to continue work at the Yury Korchagin field on the Caspian shelf.

The company worked to diversify its order book in 2008-2009. Lukoil accounted for 73% of the portfolio in 2008 and 63% in 2009. Gazprom Neft's share rose to 25% in 2009 from 17% and Rosneft's share rose to 12% from 10%.