The managing director of Khazar Oil Company said, Iran-Alborz Semi Submersible Drilling Rig will start its drilling in Caspian Sea by February.

According to National Iranian Oil Company (NIOC), Mohamad Hussein Dana said, the officials of Iran's Oil Ministry and Khazar Oil Company are doing their best to ease the project's problems.

He added, "Iran-Alborz semi-submersible drilling rig is one of the giant drilling projects to be operational in the Caspian Sea."

He also said, "Sadra Company has received 500 Mln dollars so far of which 340 Mln dollars have been spent for the rig construction and the rest is used for the construction of the tugboat and support services.

He explained, such rigs as Iran-Alborz's cost over 500-600 Mln dollars in most part of the world.