Azerbaijan to participate in oilfield drilling projects in Iraq

The Iraqi Drilling Company (IDC) has signed a partnership contract with SOCAR AQS for drilling and oil-field services, Report informs referring to the Iraqi Ministry of Oil.

The director-general of the company, Bassim Abdul Karim, said that the contract involves collaboration in the field of drilling and reclamation of oil wells, noting that the term of the contract is three years, and may be extended.

The agreement follows a visit by Iraq's Oil Minister Ihsan Abdul-Jabbar Ismail to Azerbaijan in September and a visit by General Director of Iraqi Drilling Company (IDC) Basim Abdulkareem to SOCAR's headquarters in January.

The three-year contract will see the implementation of drilling projects for national and international oil companies in Iraq, according to the SOCAR AQS.

“As part of our organization’s strategic objectives of international development and expansion of our capacity to deliver complex drilling projects, we are delighted to have landed a significant agreement with Iraq’s Drilling Company. This cooperation opens up new opportunities for both sides, allowing exchange of experience and knowledge, as well as possible further expansion of business horizons between Azerbaijan and Iraq,” Director-General of SOCAR AQS Samir Mollayev said.

The agreement follows a protocol, signed between the parties earlier this year, reflecting preliminary agreements to continue cooperation on drilling operations.

At a meeting with Ihsan Abdul-Jabbar Ismail in September 2021 in Baku, Energy Minister Parviz Shahbazov said: “The high level of relations between the two countries and joint participation in the process of regulating the global oil market are the basis of our further cooperation. We can assess the prospects for SOCAR’s supplies to the world the market for crude oil and petroleum products of Iraqi origin and the expansion of energy cooperation within the OPEC+ format.”

SOCAR AQS is an integrated drilling and well services management company established in 2007 between State Oil Company of Azerbaijan Republic (SOCAR), Nobel Energy and Absheron Qazma LLC (AQS).