Fugro Signs Joint Venture Agreement with SOCAR

SeaDiscovery.com
Monday, December 23, 2013

Fugro has reached agreement with The State Oil Company of the Azerbaijan Republic (SOCAR) to form a new Joint Venture for the performance of bathymetric, geophysical and geotechnical surveys, the provision of autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs), diving services and general positioning support, both onshore and offshore, throughout the Republic of Azerbaijan.

The agreement to form SOCAR-FUGRO LLC, in which Fugro has a 49% interest and SOCAR a 51% interest, builds upon the original agreement signed in 1995 to establish Azeri-Fugro Ltd. when Fugro first commenced operating in the Caspian region.

Over the last two decades Fugro has firmly established itself as the leading player in the offshore survey and geotechnical markets in Azerbaijan. In addition, Fugro provides underwater support to oil and gas companies and major EPC contractors with a modern fleet of AUVs and ROVs. Fugro currently operates offices and workshops in Baku with more than 50 permanent staff.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas and gas condensate, marketing petroleum and petrochemical products in domestic and international markets and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution and 22 subdivisions are operating as corporate entities under SOCAR.

Formal establishment of the new company requires standard regulatory approval which is expected shortly.

fugro.com
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

Environmental Awards Recognize 84 Foss Vessels

With a combined 840 years without an environmental incident, 84 Foss Maritime and subsidiary companies' tugs and tank barges have been recognized by a major maritime

Contracts

Dutch Yards May Need to Rethink Contract Structures

Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain

LR to Class Maersk Supply Service Anchor Handlers

The six vessels (plus four options) placed in the Norwegian yard will be assigned Lloyd’s Register (LR) class notations 100A1, Offshore Supply Ship AHTS, Fire Fighting Ship 1 (2400),

Egypt Eyes Suez Container Port Renegotiation

Egypt is trying to renegotiate an extension of an agreement worth $1.5 billion with Suez Canal Container Terminal which has a concession to run a port near the entrance to the canal,

Energy

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

China Defies U.S. Plea for Restraint in South China Sea

China on Monday hit back at "irresponsible remarks" from the United States which has called on Beijing to stop a land reclamation project in the disputed South

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

News

Dutch Yards May Need to Rethink Contract Structures

Rotterdam-based law firm AKD said a recent decision of the Dutch courts means that shipyards in The Netherlands may no longer be able to rely on the right to retain

Seven Rescued from Sinking Freighter near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

US Orders Trawler with Common-Rail Technology

Tier II-compliant 32/44CR technology to deliver fuel efficiency, low emissions and improved productivity   MAN Diesel & Turbo has received an order for an MAN

Surveyors

EMGS to Map Brazil's Gas Hydrates

Electromagnetic Geoservices ASA (EMGS) has received a contract worth USD 1.5 million for a research project in Brazil. The project will use 3D EM data to map

Rosneft Completes Geological Survey

Rosneft reports on 100% completion of the geological survey program on Company's offshore license areas for 2014. In the current year geological survey covered

Study: Offshore Ambient Vibration Monitoring

SUNY Maritime research team studies ambient vibration monitoring of offshore equipment Two State University of New York (SUNY) Maritime College professors have received a $65,

Middle East

HMAS Success Deploys to Middle East

After months of preparation, HMAS Success departed Garden Island in Sydney today for a six-month deployment to the Middle East Region to provide logistic support

DGS Marine Advises Fixed Premium P&I Cover

DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits

CMA CGM’s Seasonal Fruit Service Returns

The CMA CGM Group announced its Citrus Express seasonal service will start again in November. Spread over two rotations, this service enables to export citrus fruits

Offshore Energy

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk. Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute.

Odd Arne Slettebø new CFO of “Noreco”

Norwegian Energy Company ASA has appointed Odd Arne Slettebø as Chief Financial Officer (CFO). Odd Arne Slettebø replaces Tommy Sundt who has been appointed new CEO of the Company.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1832 sec (5 req/sec)