16 May 2022 17:10

Eurasia Drilling sells principal assets in Russia to company affiliated with oilfield services co Petroengineering

MOSCOW. May 16 (Interfax) - Razvitie Drilling Company LLC has become the new owner of Eurasia Drilling Company LLC (EDC, a subsidiary of Eurasia Drilling Company), according to an EDC statement.

Razvitie Drilling Company received 100% of the shares in the charter capital of the main asset of Eurasia Drilling.

"The change in ownership of EDC will not have a negative impact on the fulfillment of the signed drilling and workover contracts, it will not lead to the change in the EDC order portfolio or decrease in the company's production capacity and will not affect the production management structure. This deal will strengthen our company's position in the oilfield services market, expanding opportunities for implementing drilling and well repair projects," the statement said.