SOCAR, McDermott Caspian Contractors Inc. sign contract
Azerbaijan, Baku, March 2 / Trend /
On Wednesday, SOCAR and McDermott Caspian Contractors Inc., a subsidiary of McDermott International Inc., signed a contract to establish a strategic alliance for the extensive work on laying pipelines and diving operations in the Caspian region, SOCAR said.
The alliance will implement contract work provided within the development of Azerbaijan's bloc of offshore fields Azeri-Chirag-Guneshli. The contract was signed by head of SOCAR Rovnag Abdullayev and President of McDermott Caspian Contractors Inc. John McCormack.
After signing the contract, Abdullaev said this document will lay the foundation for a new level of effective cooperation between the parties in implementing major projects in the Caspian Sea.
ACG participating interests are: BP (operator - 37.43 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), ExxonMobil (8 percent), TPAO (6.75 percent), ITOCHU (4.30 percent), Hess (2.72 percent).
In 2010, BP produced 40.6 million tons (300.4 million barrels) on the block of Azeri-Chirag-Guneshli fields (ACG) compared to more than 40.3 million tons in 2009.