Turan Drilling and Engineering to manage BP procurement activity in Azerbaijan

# 11:00
20 August 2020

Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company), today announces that it has been awarded a contract amendment to manage procurement, maintenance and warehousing activities on behalf of BP Exploration (Caspian Sea) Limited, SOCAR told APA-Economics.

The agreement, effective 15 June 2020, means Turan Drilling & Engineering JV will manage the SAP maintenance system, wells procurement activity, inventory, storage and warehousing for the BP Global Wells Organisation in Azerbaijan.

Turan Drilling & Engineering has employed an additional 71 people to support this activity, 69 of whom are Azerbaijani nationals.

The amendment has a value of up to US $120 million and applies to the contract awarded by BP to Turan Drilling & Engineering in 2019 for the operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea pursuant to Product Sharing Agreements. The initial term is for five years with two one-year extension options.