Azerbaijan Caspian Sea Shipping Company acquires new vessels

Oil&Gas Materials 11 September 2014 17:49 (UTC +04:00)

Baku, Azerbaijan, Sept.11

By Emil Ismayilov - Trend:

Azerbaijan Caspian Shipping Company CJSC acquired new towing- supply and dry cargo vessels, the statement posted on the official website of the department reported.

The technical capabilities of the towing-supply vessel built under the supervision of Singapore Pacc Offshore Services Holding Ltd, will attract it for the works stipulated in the major offshore oil and gas projects in the Azerbaijani sector of the Caspian Sea, according to the report. In particular, the vessel, which is expected to be called Lankaran, will be able to work within the framework of such major projects as the second phase of the development of Shah Deniz gas condensate field, the first phase of the development of Absheron gas condensate field and the exploration and development of Shafaq-Asiman prospective block.

Deadweight of the Russian produced dry cargo vessel is 5,490 metric tons. The vessel is 108.3 meters long and 16.5 meters wide. The vessel is expected to be named after the famous Azerbaijani composer Uzeyir Hajibeyli and will be used for shipping in the Black Sea, the Mediterranean and others.

In October last year, Azerbaijani President Ilham Aliyev signed a decree on the establishment of Azerbaijan Caspian Shipping Company JSC.

Azerbaijan Caspian Sea Shipping Company Joint-Stock Company has been created on the basis of the Azerbaijan Caspian Shipping Company and the Caspian Sea Oil Fleet at SOCAR in order to continue institutional reforms in the economy, improve the efficiency of local and international transport in the field of maritime shipping, strengthening of the competitiveness of the country's transit potential, according to the decree.

The authorized capital of the company amounts to 383.420.621 AZN at the nominal value of share 1 AZN each.