French Group Receives $110-Million Offshore Rig Order From Soviet Union

The Soviet Union awarded a major offshore oil-drilling contract to a French consortium. The two Paris-based firms that won the contract are E.T.P.M. and U.I.E.

The $110-million contract for the first Soviet attempt at deepwater oil drilling went to a French group that has never before supplied the kind of equipment needed for the project.

The equipment covered in the contract will be used to set up a deepwater oil-drilling unit in the Caspian Sea.

The contract is one of the last to be awarded under the current 10th Five-Year Plan. During the 11th Five-Year Plan, 1981 to 1985, the Soviets hope to make the Caspian Sea their major offshore drilling area.

Maritime Reporter Magazine, page 6, Apr 15, 1980

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.