OREANDA-NEWS. September 28, 2010. SOGAZ Insurance Group has signed an insurance contract for drilling operations with LLC Gazflot (Moscow), which is drilling wells on the Atipayutinskoe, Kirinskoe and Tota-Yakhinskoe gas deposits.

Under the agreement, insurance will cover the drilling of two test wells in the Ob and Taz delta waters of the Arctic shelf, two test wells on the continental shelf of Sakhalin island currently under construction, as well as drilling, repair and other well equipment. SOGAZ will also provide civil liability insurance for Gazflot during drilling operations.

The drilling operations using the self-elevating drilling rig Amazon, the Norway-made semisubmersible mobile floating drilling unit Songa Mercur, and the Korean semisubmersible drilling rig Doo Sung would be insured for the entire period of tests and drilling. Risk reinsurance for the drilling operations period is done in cooperation with leading insurance companies in the Western reinsurance market.

The total insurance amount exceeds RUB 14.7 billion.

LLC Gazflot was incorporated in 1994. The company's area of expertise is undersea gas field construction. Currently LLC Gazflot operates a total of 9 marine vessels.