VOL. XLV

No 33

19-August-2002

CASPIAN

FutureDemand For Caspian Rigs Prompts Russian Purchase OfShipyard

Russias largestmechanical engineering company, OAO United Heavy Machinery (UHM), has purchaseda major share in the SSRZ III International shipyard in Astrakhan inanticipation of an expected increase in demand for offshore drilling rigs inthe Caspian Sea.A statement issued by UHM financial director Mikhail Kosolapovon 8 August said the company had nearly reached its goal of acquiring all the...