Eurasia Drilling Company: Awarded Multi-Year Contract for New-Build Jack-up Rigs in the Caspian Sea

Eurasia Drilling Company Limited, the leading onshore and offshore drilling service provider in the CIS, announces today that Dragon Oil plc, an international independent oil and gas exploration, development and production company, has awarded a three year contract to BKE Shelf (a subsidiary of EDC) for the provision and management of jackup rigs NEPTUNE and MERCURY in the Cheleken Contract Area, Turkmenistan in the Caspian Sea.

The new build NEPTUNE drilling rig is expected to be available in early 4Q 2013 and will provide well drilling services for nine months; the second new build MERCURY drilling rig is anticipated to be available in 4Q 2014 and will provide well drilling services for the remainder of the term.

Dr. Alexander Djaparidze, EDC’s Chief Executive Officer, commented,

“We are very pleased to have been awarded a multi-year contract by Dragon Oil for our new-build jack-ups NEPTUNE and MERCURY. The award marks continuation of our successful cooperation with Dragon Oil and expands our work scope in the growing Caspian Sea market that offers significant exploration and development potential.”