Foster Wheeler, SOCAR form joint venture

A subsidiary of Foster Wheeler’s Global Engineering and Construction Group has signed a Memorandum of Understanding to form a jointly owned venture in Azerbaijan with SOCAR.

Offshore staff

ZUG, Switzerland – A subsidiary of Foster Wheeler’s Global Engineering and Construction Group has signed a Memorandum of Understanding to form a jointly owned venture in Azerbaijan with SOCAR.

State-owned SOCAR, currently engaged in Caspian Sea oil and gas exploration, production, transportation, and marketing, intends to build an oil, gas processing, and petrochemical complex in Garadag.

The new JV, to be headquartered in Baku, will provide process, engineering, procurement, construction supervision, and project management services associated with the development of this new complex.

It will provide the same services for upstream, midstream, and downstream oil and gas projects developed by SOCAR both in Azerbaijan and in other countries.

07/28/2011

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