BAKU, Azerbaijan – Fugro and Azeri state oil company SOCAR have agreed to form a joint venture.
SOCAR-FUGRO LLC will specialize in bathymetric,geophysical and geotechnical surveys, provision of AUVs and ROVs, and diving services and general positioning support, both offshore and onshore Azerbaijan.
The new venture builds on an agreement signed in 1995 to establish Azeri-Fugro, when Fugro started operating in the Caspian region.
The company currently operates offices and workshops in Baku with more than 50 permanent staff.
SOCAR’s activities include exploring oil and gas fields, producing, processing and transporting oil, gas and gas condensate, marketing petroleum and petrochemical products, and supplying natural gas to industrial and domestic markets in Azerbaijan. Its facilities include a deepwater platform fabrication yard.