PARKER WELLBORE
www.parkerdrilling.com
Contact Information
2103 CityWest Blvd, Suite 400
Houston, TX 77042-2835
T: 281-406-2000
History in Turkmenistan
In 2003, Parker Drilling (now Parker Wellbore) and Calik Enerji signed a three-year contract, with an optional two-year extension, for two land rigs in western Turkmenistan’s Korpedje Field, under development by Turkmenneft.[i] In November 2005, the company reported that there was a well control incident at Rig 247, operating in Turkmenistan.[ii]
In June 2007, Parker Wellbore announced that it had “signed a two-year contract with an option for an additional year, utilizing Rig 230 for work in eastern Turkmenistan.”[iii] According to the company’s 2009 Annual Report, it conducted minimal drilling operations in Turkmenistan during 2008, producing an increase of $3.6 million in revenue over 2007 figures.[iv]
In 2008, the U.S. Securities and Exchange Commission requested information from Parker Wellbore regarding possible investments by the company in Iran. The request read, in part:
We are aware of various news reports indicating that since 2003 you have been engaged in drilling wells at Korpeje in Turkmenistan, from where natural gas is exported by pipeline to Iran. Your Form 10-K does not include disclosure regarding any contacts with Iran, a country identified by the State Department as a state sponsor of terrorism, and subject to U.S. economic sanctions and export controls. Please describe to us the nature and extent of your past, current, and anticipated contacts with Iran, if any, whether through direct or indirect arrangements.[v]
In response, Parker Wellbore Company reported the following in March 2010:
Pursuant to an internal review, we have identified certain shipments of equipment and supplies that were routed through Iran as well as other activities that may have violated applicable U.S. laws and regulations. In addition, we have engaged in drilling wells in the Korpedje Field in Turkmenistan, from where natural gas may be exported by pipeline to Iran.[vi]
In June 2010, Parking Drilling participated in the first American business mission to Turkmenistan, as part of the U.S. Turkmenistan Business Council.[vii]
Current Scope of Operations
As of 2021, we have found no further updates on the activities of this company in Turkmenistan.
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[i] NEFTE Compass, “Turkmenistan: Parker Drilling Signs up for Three Years (Teams with Chalyk Energy for Oil Rigs in Korpedje Field with Turkmenneft),” 2003, http://www.highbeam.com/doc/1G1-115756246.html. Original weblink no longer active.
[ii] Parker Drilling Company, “Parker Drilling Reports Well Control Incident in Turkmenistan,” Rigzone, 2005, https://www.rigzone.com/news/oil_gas/a/27206/parker_drilling_reports_well_control_incident_in_turkmenistan/?rss=true. Accessed February 19, 2022.
[iii] Reuters, “Parker Drilling Company Announces New Contracts for Rigs,” March 27, 2007, http://www.reuters.com/finance/stocks/keyDevelopments?symbol=PKD&pn=3. Original weblink no longer active.
[iv] Parker Drilling, “2009 Annual Report,” 37, http://parkerdrilling.investorroom.com/index.php?s=120. Original weblink no longer active.
[v] United against Nuclear Iran, “Parker Drilling Co.,” https://www.unitedagainstnucleariran.com/company/parker-drilling-co. Accessed February 19, 2022.
[vi] United against Nuclear Iran.
[vii] US-Turkmenistan Business Council (2010).