OREANDA-NEWS. April 22, 2011. Orenburg Branch of SOGAZ Insurance Group has insured Orenburg Drilling Company, which has been contracted to construct (drill) the Shakhrinav-1p exploration well at the Sarikamysh Block, Republic of Tajikistan.

The drilling of the Shakhrinav-1p exploration well with a vertical design depth of 6,300 m began in December last year. This well is unique for the whole Central Asia. The drilling is being performed at the Sarikamysh area notable for its increased seismic hazard and special risks: abnormal reservoir pressure, high hydrogen sulfide content, high temperature at target horizons. Subject to possible geological risks, the design was reviewed by NSAL (London) at the insurer’s order. 185 railroad carriages, 31 vehicles, and 21 air freights with equipment and materials have already been brought in for drilling. Another set of geophysical survey has been conducted at a depth of 2,059 meters.

The insurance covers the well, civil liability of the contractor against damage to third parties and environment, as well as drilling and industrial equipment. Apart from that, additional insurance has been provided for the liability of other project participants, including the block operator and subcontractors.

Insurance coverage is provided for the entire duration of drilling works, including tests. The total insured amount is over RUB 2.9 billion.

It is noteworthy that the insurance of Orenburg Drilling Company has become the largest insurance project covering a single well in the history of SOGAZ.

Gazprom Zarubezhneftegaz is the customer of drilling works. The company operates the investment project of OJSC Gazprom for hydrocarbon exploration in Tajikistan. Out of four Gazprom’s license blocks in Tajikistan, the Sarikamysh is expected to be the most promising.