OREANDA-NEWS. April 16, 2010. SOGAZ Insurance Group has concluded an agreement for insurance of the construction of self-elevating off-shore drilling rig performed by OJSC Ship repair center Zvezdochka, one of largest Russian ship-building enterprises, commissioned by LLC Gazflot.

Under the agreement, SOGAZ will provide insurance coverage for Arkticheskaya self-elevating offshore drilling rig in case of its loss or physical damage at every stage of construction including transportation and sea trials. SOGAZ will also insure third-party general liability of the contractor for the entire construction period.

The insurer’s aggregate liability limit amounts to more than RUB4.9 billion.

Arkticheskaya is a non-propelled three-prop drilling rig with living quarters in the forebody, a helicopter landing pad and a drilling block located on the extensible console in the afterbody. Arkticheskaya drilling rig will perform drilling and exploration works in the arctic shelf oilfields in the Pechora Sea.

LLC Gazflot is a 100 percent affiliate of OJSC Gazprom, formed in 1994. The company performs geological prospecting work, development of off-shore gas field infrastructure, marine transportation and other types of marine works. Currently, LLC Gazflot is in possession of 9 marine vessels and two offshore drilling rigs.