Turan Drilling and Engineering to manage BP procurement activity in Azerbaijan

Business

09:59 | 27.08.2020

Turan Drilling and Engineering to manage BP procurement activity in Azerbaijan

Turan Drilling and 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 ("BP").

The agreement, effective 15 June 2020, means Turan Drilling and 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 and 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 and 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. These are the East, West and Central Azeri, Deepwater Gunashli, West Chirag, Chirag and Shah Deniz installations. The initial term is for five years with two one-year extension options.

Bob Petrie, General Director, Turan Drilling and Engineering said, "We are delighted that BP has demonstrated its faith in Turan Drilling and Engineering, by broadening the service we provide in Azerbaijan to include procurement activities. This shows our ability to offer value at, and beyond the rig site, providing solutions for customers across their operations."

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