Baku, Azerbaijan, July 26
By Ilkin Shafiyev - Trend:
"Turan drilling and engineering company" which is a joint venture of Azerbaijan’s SOCAR-AQS company and the British KCA Deutag company, will determine the main directions of its activities In the near future, the General Director of SOCAR-AQS company, Ramin Isayev told reporters July 26.
The ceremony of signing of the agreement between SOCAR-AQS and KCA Deutag companies on the establishment of the joint venture entitled as "Turan drilling and engineering company" has been held today in Baku.
"The new enterprise will be engaged in drilling, maintenance, design and construction of drilling rigs," Isayev said, adding that the company will operate both in Azerbaijan and outside the country.
He noted that, the Azerbaijani side will be the main holder of the company's shares:
"However, the foreign partners will play a great role in the activity of the company, all their resources will be used to the maximum”.
Speaking about the possibility of competition with the drilling company entitled as “Caspian Drilling Company” which is functioning in the country currently, Isaev noted that, this company is mainly engaged in drilling on floating platforms, and the "Turan drilling and engineering company" will be engaged in drilling on stationary platforms and onshore fields.