Turan Drilling & Engineering, a KCA Deutag and SOCAR AQS company, has been awarded its first contract, which is with BP Exploration (Caspian Sea) Ltd.
The contract has a value of approximately $500 million for the firm period or $700 million including all options, and is for the operations and maintenance of seven platform drilling rigs operated by BP in the Caspian Sea associated with 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 5 years with two 1-year extension options.
Formed in July 2018, Turan Drilling & Engineering is a joint venture between KCA Deutag and SOCAR AQS. It is jointly owned by the two companies and combines KCA Deutag’s drilling and engineering expertise with SOCAR AQS’s knowledge, experience, and infrastructure in the Caspian region.
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