SOCAR AQS establishes joint venture with KCA Deutag

Baku. 26 July. REPORT.AZ/ SOCAR AQS has established a joint venture with UK KCA Deutag UK.

Report informs, an agreement has been signed between SOCAR AQS and KCA Deutag today.

The new joint venture is called Turan Drilling and Engineering Company.

Director General of SOCAR AQS, Ramin Isayev noted that the company started drilling operations in 2008 and gained many achievements. He said that the signing of the agreement on creation of the enterprise is a very significant event in the history of Azerbaijan's oil and gas industry. "The joint venture which established today will be Azerbaijani venture reflecting competence and experience of SOCAR AQS and KCA Deutag and activating in accordance with all advanced international standards. This venture providing the most modern drilling and engineering services to its customers, will play a very important role in the development of local and regional drilling industry. "

Chief Executive Officer, KCA Deutag, Norrie McKay said that this joint venture will create new opportunities: "This joint venture will investigate business opportunities in the Caspian region, beyond Azerbaijan"

First Vice President of SOCAR, Khoshbakht Yusifzade wished success to the newly established joint venture and emphasized his confidence that works would be more successful with the help of both companies.

Notably, KCA Deutag has been operating in Azerbaijan since 1995.

SOCAR-AQS LLC was established as an integrated drilling and well services management company between the State Oil Companyof Azerbaijan Republic (SOCAR) and Absheron Drilling Company (AQS) in 2007. Main scope of activities of the company is provision of work and services related with drilling of oil and gas wells, including: well design and planning; drilling of oil and gas wells; drilling of directionally deviated wells; drilling of horizontal wells; well completion; well workover; sidetracking and drilling of multilateral wells

The company has been a contractor member of IADC since 2009. SOCAR-AQS has been assessed and certified as meeting the requirements of ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 international standards for: Provision of Integrated Offshore Oil & Gas Drilling and Well Services; Casing Running Services and BOP and Wellhead Equipment Repairing and Testing Services. In 2017, SOCAR-AQS have been certified as meeting the requirements of the API Spec Q2 Quality Management System Standard for the Provision of Integrated Offshore Oil & Gas Drilling & Well Services.