Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company), today announces that it 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 for 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 recognised 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.”
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SOCAR AQS is an integrated drilling and well services company established in 2007 by the State Oil Company of Azerbaijan Republic (SOCAR) and Absheron Drilling Company. The company’s main scope of services includes oil and gas wells drilling, well design and planning, drilling of directionally deviated wells, drilling of horizontal wells, well completion, well workover, sidetracking and drilling of multilateral wells. The company also provides industry specific supply chain management, warehouse management and other related services.
Currently, SOCAR AQS executes oil and gas well drilling with 6 rigs on 5 platforms in 4 offshore oil and gas fields including Shallow Water Gunashli, West Absheron, Umid and Bulla.
The company has 1077 employees, of which the majority are Azerbaijan citizens. SOCAR AQS has been awarded and implements contracts in Ukraine and Bangladesh.
The company has been a contractor member of the IADC since 2009. SOCAR AQS has been certified as compliant with the API Spec Q2 Quality Management System Standard for the Provision of Integrated Offshore Oil & Gas Drilling & Well Services. The company is the first and the only company in the region to have the API Spec Q2 Certificate.
SOCAR AQS’s shareholders are SOCAR, Nobel Oil Services and ‘’Absheron Qazma” LLC.
KCA Deutag is one of the world’s leading drilling and engineering contractors working onshore and offshore.
The group consists of four business units: Land, Offshore, RDS and Bentec. KCA Deutag and its affiliates operate 108 drilling rigs globally employing people in Africa, Europe, Russia, the Middle East, the Caspian Sea, Canada and South East Asia.
With over 40 years of platform drilling experience, KCA Deutag is one of the world’s largest platform services operators. Either directly or through its joint venture arrangements, the group is responsible for the management of drilling and maintenance operations on 29 platforms and two Gusto CJ70 Jack Ups.
The group currently employs approximately 780 people in Azerbaijan, 81% of whom are Azerbaijani nationals.
PHOTOS ATTACHED COURTESY OF BP:
BP operated Central Azeri platform in the Azerbaijan sector of the Caspian Sea