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

People & Company News

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Contracts

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

'Run to Remember' by USCG Foundation

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced this year’s

IMTRA Announces Exclusive Sola-Cure Distributor Partnership

IMTRA announced today through its exclusive North American distributorship of Sola-Cure shades — its line of customizable, high-quality and comprehensive solutions

Offshore

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

JIT Transit Slots Reduced at Panama Canal

The Panama Canal has experienced an unusual increase in the number of vessels awaiting transit during the past few weeks. Several measures have been implemented to reduce the backlog,

Swiber Gains $405.6 mi Contracts

Business momentum is fast picking up at Swiber Holdings Limited despite the downturn in the oil and gas industry as the Group clinches a total of US$405.6 million for a series of contracts,

Energy

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

Huge Heavy Lift Project Wraps up in Colombia

Mammoet concludes multi-year heavy lifting and transport project for refinery in Cartagena, Colombia   Mammoet USA informs it has completed a heavy lifting and

ABB, Samsung SDI JV to Develop Microgrids Globally

ABB and Samsung SDI have signed a Memorandum of Understanding to promote microgrid solutions globally. The two companies will establish a global commercial alliance

News

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Surveyors

Virtual Aids to Navigation Mark Research Equipment

Vesper Marine will provide its Virtual Aid to Navigation technology to the French company CGG, a  geoscience company that provides geological and geophysical survey

US-built Survey Vessel Delivered to Fugro

Newbuild shallow draft survey vessel Fugro Americas was delivered to Fugro on March 18, 2015. Built by Thoma-Sea Marine Constructors in Louisiana, with supervision by Fugro Marine Services Custom,

Boskalis Increases Holding in Fugro

Royal Boskalis Westminster N.V. informs it has increased its holding in Fugro N.V. to 25.1%, stressing that the move is not a step toward making an offer.   “Boskalis

Middle East

US Will Work to Ensure Bab-el-Mandeb Strait Remains Open

The U.S. military will work with Gulf and European partners to ensure the strategic Bab el-Mandeb Strait at the tip of the Red Sea remains open to commerce despite fighting and instability in Yemen,

IR Class Launches Advisory Committee

IRClass (Indian Register of Shipping) has established a senior level advisory committee in the United Arab Emirates in an effort to increase activity and foster business links in the region.

Record Rig Berthing at Drydocks World

Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors, have simultaneously berthed 11 rigs in the Dubai yard,

Offshore Energy

SAL Heavy Lift Performs Offshore Windfarm Work

MV Lone proves as project platform for Wikinger wind farm   SAL Heavy Lift informs it has completed the second phase of the Wikinger Pile Testing Campaign with DP II Class vessel MV Lone.

Swiber Gains $405.6 mi Contracts

Business momentum is fast picking up at Swiber Holdings Limited despite the downturn in the oil and gas industry as the Group clinches a total of US$405.6 million for a series of contracts,

Rosneft Cancels Rig Contract

Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.2301 sec (4 req/sec)