Turan Drilling & Engineering launches operations within contract with BP
Baku, Azerbaijan, Aug. 7
By Sara Israfilbayova – Trend:
The Turan Drilling & Engineering joint venture replaced KCA Deutag, the former drilling contractor, on all drilling platforms operated by BP at the Azeri-Chirag-Gunashli and Shah Deniz fields, a source in the oil and gas market told Trend.
Turan Drilling & Engineering, a joint venture between KCA Deutag and SOCAR AQS, signed a five-year contract with BP in April 2019.
At the same time, local personnel, who in the future can replace foreign specialists in management positions in the company, are being trained.
So far, Azerbaijani specialists are mainly occupy mid-level management positions.
The contract envisages the management and maintenance of drilling rigs on BP’s seven stationary platforms located in the Caspian Sea. Turan’s drilling contract covers offshore operations and maintenance work on drilling rigs of seven platforms operated by BP, including the Central, East and West Azeri platforms, deepwater Gunashli, West Chirag, Chirag-1 and Shah Deniz Alpha.
The approximate cost of the concluded contract within the agreed deadline is $500 million, which may increase to $700 million taking into account the possibility of extending its term.
The initial term of the contract is five years with the possibility of its further extension two times for one year.
Turan Drilling and Engineering established in 2018 is a joint venture of KCA Deutag and SOCAR AQS.
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