SOCAR Fugro completes research in shallow of Absheron Peninsula

Oil&Gas Materials 28 November 2018 12:57 (UTC +04:00)

Baku, Azerbaijan, Nov. 28

By Sara Israfilbayova – Trend:

Research at the Shallow Water Absheron Peninsula exploration area and at the Oil Rocks has been completed in early November 2018, Fikrat Aliyev, the director general of the company told Trend.

Aliyev also said that the company has been conducting geophysical and geotechnical surveys of the shallow water area of the Absheron Peninsula, geophysical and geotechnical exploration at the Oil Rocks.

Shallow water area around the Absheron Peninsula stretches along the margins of the Caspian basin to the south of the Absheron Peninsula. The acreage features water depths of up to 40 meters with potential reservoir depths of 3,000-5,000 meters.

Research work is not the only service provided by the company. Aliyev noted that SOCAR Fugro also provides equipment, expertise and technology that support the exploration, development, production and transportation of the world’s natural resources.

“We also provide our clients with technical data and information required to design, construct and maintain structures and infrastructure in a safe, reliable and efficient manner,” he said.

Aliyev went on to say that the successful management of the Health and Safety Executive (HSE) issues is an essential component of SOCAR-Fugro’s business strategy, adding that the company is committed to and is proactively involved in the protection of stakeholders and the environment.

SOCAR Fugro is a joint venture of the Azerbaijani state oil company SOCAR and the Netherlands' Fugro.

Among the services provided by the company are: geoscience, positioning, subsea, onshore and offshore geotechnical services.

The controlling stake of 51 percent belongs to SOCAR, 49 percent belongs to Fugro.