SOCAR, KCA Deutag form Caspian drilling, engineering venture
SOCAR AQS and KCA Deutag will form a joint venture targeting existing and future opportunities in the offshore and onshore Caspian drilling and engineering sector.
BAKU, Azerbaijan – SOCAR AQS and KCA Deutag will form a joint venture targeting existing and future opportunities in the offshore and onshore Caspian drilling and engineering sector.
Turan Drilling & Engineering Company LLC, based in Baku, will be jointly owned and managed by the two companies.
It will focus on development of business for the provision of oil and gas well drilling and engineering services both in the Caspian Offshore and other parts of the Central Asia region, with a commitment to employment and development of Azerbaijani nationals and services.
KCA Deutag CEO Norrie McKay said the venture “brings together two businesses with complementary skillsets, which we believe will strengthen our offering to clients, and enable us to jointly expand our footprint in the region.”
Currently KCA Deutag employs around 780 people in Azerbaijan, 79% of which are Azerbaijani nationals.
It has operated in the country since 1995 when it secured its first drilling contract and has a 20-year track record of providing design, construction support, platform services, commissioning and brownfield engineering services in-country through its RDS and Offshore business divisions.