RE: Update25 Feb 2020 12:55
Ha ha the Caspian is that shallow I don't think anyone would notice if it sank, To date, Caspian Sunrise has focused exclusively on onshore exploration and production. In parts of the Northern Caspian Sea, where the company’s management believes there are attractive oil producing prospects, the water levels are extremely shallow and cannot be explored with traditional deepwater rigs.According to the company, the independent directors believe the Caspian Explorer to be the only currently operational drilling vessel of its type capable of operating in water as shallow as 2.5 meters in the Caspian Sea. Further, given the lead times and construction costs, the independent directors do not expect a new competing drilling vessel to enter the market in the next few years.