From the Field
BP awards $700-mln Azerbaijan deal to Turan
BAKU, April 17, 2019 – BP has awarded a contract for platform maintenance and operations at seven of its Caspian Sea assets to Turan Drilling & Engineering, a joint venture between Azeri state giant SOCAR and KCA Deutag, international media reported on Tuesday.
The contract has a period of up to seven years, with a firm period of five years that is worth USD 500 million and two one-year extensions on the table that would raise the value to USD 700 million.
Turan, a joint venture formed in July 2018, is set to work on the super-major’s East Azeri, West Azeri, Central Azeri, Deepwater Gunashli, Chirag, West Chirag and Shah Deniz platforms.
With the Turan contract, KCA Deutag will cease to operate in Azerbaijan under its current name, the company told TOGY in late 2018.