Industry and Energy

Home page

Industry and Energy

Memorandum of understanding signed between SOCAR and "Baker Hughes"

10 December 2019 11:44 (UTC +04:00)

The memorandum of understanding regarding development and implementation of efficient well concept in the area of production site operations has been signed between SOCAR and "Baker Hughes" companies, the signing ceremony took place in the framework of the conference entitled as "Energy Forward" and arranged by "Baker Hughes" company in Baku City, "APA-Economics" reports.

The main goal of this project is to identify and benefit from the opportunities of improvement of efficiency in new wells. The introduction of the advanced technological solutions of “Baker Hughes” company in addition to supporting development of Azerbaijan’s oil and gas industry, will also create conditions for more efficient use of local resources and potentials.

Besides, an agreement paving the way for implementation inside the country of production of reagents for oil industry based on efficient use of the SOCAR’s plant available in Azerbaijan has been signed during the conference between “Baker Hughes” company and OIl and Gas Research and Engineering Institute.

In addition, a completion certificate about issuance of license of “JewelSuite” software to Baku Higher Oil School by “Baker Hughes” company has been signed.