Gulf Oil and Gas accountACCOUNT

KCA Deutag & SOCAR Wins $500 million BP Contract in Azerbaijan

Source: www.gulfoilandgas.com 4/16/2019, Location: Asia

Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company) has been awarded its first contract, which is with BP Exploration (Caspian Sea) Limited (BP).

The contract has a value of approximately $500 million for the firm period or $700 million including all options, and is for the operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea pursuant to Product Sharing Agreements. These are the East, West and Central Azeri, Deepwater Gunashli, West Chirag, Chirag and Shah Deniz installations. The initial term is for five years with two one year extension options.

Formed in July 2018, Turan Drilling & Engineering is a joint venture between KCA Deutag and SOCAR AQS. It is jointly owned by the two companies and combines KCA Deutag's expertise as a world leading drilling and engineering contractor with SOCAR AQS's unrivalled knowledge, experience and infrastructure in the Caspian region.

Mr. Nasib Hasanov, Founder of Nobel Oil Services, SOCAR AQS's major shareholder, said, "SOCAR AQS is a leading integrated drilling contractor with proven capabilities and solid infrastructure in the Caspian region. We are very pleased that our joint venture, Turan Drilling & Engineering, has been awarded this contact, which is a significant milestone in its development.

This contract represents client recognition of our joint venture's capability and capacity to deliver complex projects with the application of the highest industry standards. Established as a local company, Turan is well positioned to provide significant cost efficiencies through combining the existing infrastructure, expertise and resources of its parent companies. This contract will also serve the development of local talent in the drilling industry and related services in Azerbaijan."

Commenting on today's announcement Norrie McKay, CEO of KCA Deutag said, "KCA Deutag has worked in the Caspian for a number of years now, and we are delighted BP has recognized the strength of our new Azerbaijani joint venture with the award of this substantial contract to Turan Drilling & Engineering.

"The Caspian onshore and offshore drilling and engineering market continues to be highly active, and we believe that our local presence puts us in a strong position to take advantage of other business development opportunities as they arise."

Rigs >>

Rigs News in Azerbaijan >>

United Arab Emirates >>  5/20/2019 - Shelf Drilling, Ltd. has secured a three-year contract for the recently acquired premium jack-up rig Shelf Drilling Achiever, for operations in the...
United States >>  5/20/2019 - Vantage Drilling International announced that U.S. District Court Judge Alfred H. Bennett of the Southern District of Texas granted Vantage Deepwater ...

Qatar >>  5/9/2019 - Northern Offshore announces firm Letter of Awards for two (2) long-term contracts for its premium, heavy-duty jack-up drilling units from Qatar Petrol...
Denmark >>  5/8/2019 - Combining hybrid power, data intelligence and cleaning technology, the Maersk Intrepid will push the boundaries for low-emission drilling on conventio...

Indonesia >>  5/7/2019 - The jack-up drilling rig "HAKURYU-11" has started the drilling operation based on the contract with Premier Oil Natuna Sea B.V. on April 26th 2019 at ...
United Kingdom >>  5/7/2019 - Independent Oil and Gas plc, the development and production company focused on becoming a substantial UK gas producer, is pleased to provide an update...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Azerbaijan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

Oil & Gas Projects in Azerbaijan >>

More News

Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.