SOCAR-STP inks agreement with Finnish company

Oil&Gas Materials 26 May 2022 10:38 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU. Azerbaijan. May 26. ALMACO Group, the leading system supplier for the global marine and offshore industries based in Finland and SOCAR-STP, the joint venture of Azerbaijan’s state oil company SOCAR and Sumgait Technology Park have signed a memorandum of understanding on co-operating on offshore construction projects in the Caspian Sea region, Trend reports with reference to ALMACO.

Reportedly, SOCAR-STP’s extensive facilities close to Baku will be used for setting up the prefabrication lines for the living quarters and cabins in accordance with ALMACO’s Mobile LQ (Living Quarter) Factory concept. The strategically important location of the prefabrication factory, as well as ALMACO’s support, will help SOCAR-STP to establish the production of accommodation products for all the projects in the region. Besides the benefits achieved from setting up the prefabrication factory in close proximity to the final installation location, the cooperation also aims to increase the level of local content in future projects in Azerbaijan.

“We are looking forward to this cooperation and to get started with our plans to develop extensive local fabrication of accommodation solutions in the whole Caspian Sea region. We expect to sign our first delivery contract shortly,” said Farid Aghayev, CEO of SOCAR-STP.

Jussi Laimi, Vice President of Accommodation Newbuild Sales at ALMACO, believes that this cooperation is a perfect match.

“It combines SOCAR-STP’s extensive construction and manufacturing skills with the benefits of our Mobile LQ Factory concept. Together we can offer the local markets much higher quality and more local content than before. The Mobile LQ Factory is a concept that ALMACO has used successfully in several other regions previously and we are certain it will be a success here as well,” added Laimi.


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