"Savings in the budget of a new generation drilling rig were made. Construction of the rig costs cheaper than expected." President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev told reporters.

The head of SOCAR mentioned that savings in the project made 60 million USD. He said that there was no delay in the construction of a new generation drilling rig.

According to him, the rig will be ready by the end of 2017, 95% of the work has been completed.

The operator of the rig is "Caspian Drilling Company" company. The construction contractor of the device is the Singapore's "Keppel FELS Ltd".