The Russian insurance company SOGAZ has signed an agreement on the insurance of two semi-submersible rigs to be used in the Shtokman project.

The insurance covers the two Moss CS-50 rigs currently under construction at the Vyborg Yard on an order from Gazflot. The insurance has a two-year limit and a maximum 36.7 billion RUB cost frame, the company confirms in a press release.

The two rigs are to be handed over to Gazprom-subsidiary Gazflot in respectively late 2010 and early 2011.

SOGAZ is a major Russian insurance company providing services to a great number of Russian companies, among them Gazprom, Rosneft, Rosatom and the Russian Railways. The company recently also secured a contract with the Murmansk regional administration on the provision of medical insurance to regional administration officials, the company confirms in a press release.
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