INTERNATIONAL HIGHLIGHTS

摘要

A ccording to the CFO of Eurasia Drilling, Russia will have to replace its old Soviet-made land rigs at a cost of approximately $8.8 billion if it is to drill and exploit the country's giant Bazhenov Shale oil deposits, said to be many times larger than the Bakken Shale play. More than half the country's 1,835 oil and gas rigs are more than 20 years old and not powerful enough or sufficiently advanced to carry out shale drilling in the Siberian Bazhenov formation. According to Eurasia Drilling, several hundred new rigs are needed that will cost about $35 million each.