Drilling Operations In Caspian Sea To Meet Global Best Practices Energy
Drilling industry in the Caspian region entered an all-new period after Azerbaijan’s SOCAR AQS and the British KCA Deutag Group converged their advanced technologies and sophisticated expertise within a joint venture last week to unveil more drilling and engineering opportunities in the Caspian Sea.
“The joint venture will become an Azerbaijani enterprise, combining the experience of SOCAR AQS and KCA Deutag, and operating in full compliance with all advanced international standards,” SOCAR AQS’ General Director Ramin Isayev said at a signing ceremony in Baku on July 26, when the two sides inked an agreement to form the joint venture called Turan Engineering & Drilling Company.
“This enterprise, which will offer customers the most advanced drilling and engineering services, will play a very important role in the development of local and regional drilling industry,” Isayev said.
Turan Drilling & Engineering will be co-owned and co-managed by SOCAR AQS and KCA Deutag with its headquarter located in Azerbaijan’s capital city, Baku. The company is setting out to explore opportunities in the offshore and onshore Caspian drilling and engineering market, by leveraging both KCA Deutag and SOCAR AQS expertise.
Established in 2007, SOCAR AQS is the joint venture of Azerbaijan’s wholly state-owned national oil and gas concern, known as the State Oil Company of Azerbaijan Republic (SOCAR), and Nobel Oil Services, a diversified group of companies, which provides drilling, construction and project management as well as equipment maintenance, procurement and enhanced oil recovery services in the oil and gas industry. Since its creation, SOCAR AQS has been drilling wells from various fixed platforms in Azerbaijan’s portion of the Caspian Sea and abroad, including in Bangladesh.
Nasib Hasanov, the founder of Nobel Oil Services, says the agreement between SOCAR AQS and KCA Deutag will help expand the Azerbaijani company’s operations.
“Over the years of its operation, SOCAR AQS has achieved considerable progress,” Nasib Hasanov said commenting on the establishment of the Turan Drilling & Engineering joint venture. “As a result of its successful performance, the company has proven itself as a reliable partner. The establishment of this joint venture with KCA Deutag will create new opportunities for business development. I believe our cooperation will be mutually beneficial and our clients will be able to receive even more advanced services.”
KCA Deutag Group has been operating in Azerbaijan since 1995, when it was awarded its first drilling contract in the Caspian Sea. Its current operations in Azerbaijan include providing design, construction support, platform services, commissioning and brownfield engineering services. Collaboration with SOCAR AQS will be the first of its kind.
“This is an exciting step in the group’s strategy to develop our business in the Caspian region. It brings together two businesses with complementary skill sets, which we believe will strengthen our offering to clients, and enable us to jointly expand our footprint in the region,” KCA Deutag CEO, Norrie McKay, said in a company statement.
source: Caspian NEWS