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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Rescues 4 From Burning Boat Off Grand Haven

The Coast Guard and a good Samaritan rescued 4 people after their 20-foot boat caught fire on the Grand River, Sunday. A boat crew from Coast Guard Station

Statoil Awards Integrated Drilling Contract

Statoil is awarding Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. The estimated contract value is NOK 1.5 billion

ISS Signs Master Services Agreement with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East.

Contracts

Statoil Awards Integrated Drilling Contract

Statoil is awarding Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. The estimated contract value is NOK 1.5 billion

ISS Signs Master Services Agreement with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East.

Antwerp Port Sets up “One Belt One Road” Taskforce

“One Belt, One Road” is a Chinese development strategy launched at the end of 2013 that focuses on connectivity and cooperation among countries primarily in Eurasia.

Energy

Hercules-2 Officially Launched

MAN Diesel & Turbo, Wärtsilä and Winterthur Gas & Diesel to collaborate on major, EU-funded project A major cross-industry initiative led by MAN Diesel & Turbo,

Viking O&M Secures Rig Contract from a Chinese Firm

Viking Offshore & Marine has secured a 48-month charter for a second land drilling rig system for US$31 million ($41.8 million).   Viking’s subsidiary Viking LR2 will charter the 1,

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

News

USCG Rescues 4 From Burning Boat Off Grand Haven

The Coast Guard and a good Samaritan rescued 4 people after their 20-foot boat caught fire on the Grand River, Sunday. A boat crew from Coast Guard Station

Satcom Debuts New Iridium OpenPort Promo

Satcom Global launched a new Iridium promotion which will offer service plans that double the data and/or voice allowance on a range of popular OpenPort service packages,

Statoil Awards Integrated Drilling Contract

Statoil is awarding Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. The estimated contract value is NOK 1.5 billion

Middle East

ASRY Inks UK Royal Navy Support Contract

ASRY and Babcock have signed a long term support facility agreement to provide ongoing services to the U.K. Royal Navy in Bahrain   ASRY (Arab Shipbuilding & Repair Yard),

San Leon Signs Moroccan Rig Deal

San Leon Energy signed a rig contract for the drilling of the El Aaiun-4 well on the Tarfaya conventional licence, onshore Morocco. The rig contract has been

Sanamar Launches 3 Tugs from New Yard

Sanmar’s new custom-built, general purpose shipyard at Altinova, Turkey, has launched three 60-metric-ton bollard pull tugs on the same day, less than five months since work first started at the yard.

Offshore Energy

ISS Signs Master Services Agreement with Technip

Inchcape Shipping Services (ISS) and Techniphave signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East.

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

First Subsea Wet Gas Compressor Installed

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea.

Unmanned Vehicles

New Imagery Allows Viewers to ‘Tour’ WWII Shipwrecks

High-tech underwater cameras help uncovering the secrets of HMAS Sydney   A recent expedition to survey historic World War II shipwrecks has produced a wealth

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.2228 sec (4 req/sec)