Eurasia Drilling Co Ltd : EDC Awarded Multi-year Contract for New-build Jack-up Rigs in the Caspian Sea

News Release

EDC Awarded Multi-year Contract for New-build Jack-up Rigs inthe Caspian Sea

MOSCOW, October 3, 2013 - Eurasia Drilling CompanyLimited  ("EDC" or the"Company" - LSE: EDCL), the leading onshore and offshore drillingservice provider in the CIS, announces today that Dragon Oil plc (Ticker:DGO), an international independent oil and gas exploration, development andproduction company, has awarded a three year contract to BKE Shelf (asubsidiary of EDC) for the provision and management of jack-up rigs NEPTUNE and MERCURY in the Cheleken Contract Area, Turkmenistan in the CaspianSea.

Thenew build NEPTUNE drilling rig isexpected to be available in early 4Q 2013 and will provide well drillingservices for nine months; the second new build MERCURY drilling rig is anticipated to be available in 4Q 2014 andwill provide well drilling services for the remainder of the term.

Dr. Alexander Djaparidze, EDC's Chief ExecutiveOfficer, commented,

"We are very pleased to have been awarded a multi-yearcontract by Dragon Oil for our new-build jack-ups NEPTUNE and MERCURY. The award marks continuation of our successfulcooperation with Dragon Oil and expands our work scope in the growing CaspianSea market that offers significant exploration and development potential."

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EDC provides offshore drillingservices in the Caspian Sea and is the largest provider of such services in thesectors where it operates based on the number of jack-up drilling rigs. TheCompany is also the largest provider of onshore drilling services in Russia, asmeasured by the number of metres drilled, providing onshore integrated wellconstruction services and workover services. The Company offers its onshoreintegrated well construction services and workover services to local and internationaloil and gas companies primarily in Russia and its offshore drilling services toRussian and international oil and gas companies in the Russian, Kazakh andTurkmen sectors of the Caspian Sea. In addition, the Company provides onshoredrilling services in Iraq. The Company is traded on the London Stock Exchangeunder the symbol "EDCL".

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For further information, pleasecontact:

Tom O'Gallagher, Marketing andInvestor Relations

Evgeniya Bitsenko, InvestorRelations

[phone]

[e-mail]

Hudson Sandler

Andrew Hayes/ Maria Ignatova

[phone] 

October 3, 2013

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