BP lets contract for Azerbaijan offshore project

BP Exploration (Caspian Sea) Ltd. has let a contract to Turan Drilling & Engineering Co. LLC, a joint venture of KCA Deutag and Socar AQS, for the operation and maintenance of seven platform drilling rigs, said Turan Drilling, which was formed in July 2018.

The contract covers work on production-sharing contracts involving East, West, and Central Azeri, Deepwater Gunashli, West Chirag, Chirag, and Shah Deniz installations.

The initial contract, worth $500 million, is for 5 years with two 1-year extension options.

Socar AQS is an Azerbaijan drilling and well services company that entered into a joint venture with UK oil and gas services company KCA Deutag.

Turan Drilling, based in Baku, has said it will focus on existing and future opportunities in the offshore and onshore Caspian drilling and engineering markets.