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Azerbaijan Investment Company News

08 Sep 2017

Subsea Construction Vessel Launched in Azerbaijan

Designed by Keppel Offshore & Marine and built by Baku Shipyard, the state-of-the-art subsea construction vessel, Khankendi, will install the biggest subsea production system in the Caspian Sea (Photo: Keppel)

The vessel was named Khankendi by the President of Azerbaijan, H.E. Ilham Aliyev, at a ceremony in Baku Shipyard and launched by the Shah Deniz consortium. Baku Shipyard LLC, a joint venture between Keppel Offshore & Marine Ltd (Keppel O&M), State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC), has completed a Subsea Construction Vessel (SCV) for the Caspian region. The Khankendi will be deployed to the Shah Deniz field where it is expected to perform subsea installation and construction work over the next eleven years.

25 Apr 2014

Caspian Sea Shipyard Wins BP Exploration SCV Contract

Keppel supported Baku Shipyard has won a first major contract from BP Exploration (Shah Deniz) Ltd, the operator of the Shah Deniz gas field development, to design and build a Subsea Construction Vessel (SCV). The contract is worth US$378-million, say the shipyard. When completed, the SCV will be deployed for the Stage 2 development of the Shah Deniz field, which lies some 70 kilometres offshore in the Azerbaijan sector of the Caspian Sea. The Shah Deniz Stage 2 project requires a subsea installation vessel to install the subsea structures over 11 years between 2017 and 2027. The vessel will include dynamic positioning to allow for work in 2.5 metres significant wave height (Hs)…

20 Sep 2013

A New Shipyard Opens in Azerbaijan

Photo: www.socar.az

President of Azerbaijan, H.E. A new shipbuilding yard that is jointly developed by Keppel Offshore & Marine Ltd (Keppel O&M), State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC) was officially opened this morning by President of Azerbaijan, H.E. Ilham Aliyev. Singapore's Senior Minister of State for Trade and Industry, Mr Lee Yi Shyan, also attended the inauguration ceremony of the new yard. Named Baku Shipyard LLC (Baku Shipyard), the new 62-ha yard in Baku…

20 Apr 2012

Shipyard Cranes Order for Konecranes

Goliaht Crane: Photo credit Konecranes

Konecranes has received an order for cranes for a shipyard being built in Baku, Azerbaijan. The order was placed by Baku Shipyard, a joint venture company formed by State Oil Company of Azerbaijan Republic (SOCAR), Keppel Offshore and Marine (KOM), and Azerbaijan Investment Company (AIC). The order comprises one Goliath gantry crane and two portal jib cranes. The cranes will be delivered to the Baku shipyard by 2013. Baku Shipyard will develop a yard that is expected to be ready by the end of 2013.

22 Mar 2010

Keppel Joint Venture, Azerbaijan Shipyard

Illustration courtesy Keppel Offshore & Marine Limited

President of Azerbaijan, HE Ilham Aliyev breaks ground for the new yard in the presence of Singapore’s Minister for Foreign Affairs, Mr George Yeo. Fortifying its presence in the Caspian Region, Keppel Offshore & Marine Limited (Keppel O&M) joins hands with State Oil Company of Azerbaijan Republic (SOCAR) and Azerbaijan Investment Company (AIC) to develop and manage a new 52-ha shipbuilding and shiprepair facility in Baku, Azerbaijan. The new SOCAR-Keppel Shipyard will be developed over a period of two to three years with an investment of US$386 million.

22 May 2008

SOCAR Acquires 65 Percent of Stake in Shipbuilding Factory

Within the visit of Prime Minister Han Seung-soo to , Memorandum on creation of Caspian Shipbuilding Factory was signed. State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev said the Memorandum has been signed between SOCAR, Korean STX and Azerbaijan Investment Company (AIC). STX that has initiated the project offers parity distribution of the project shares between all the shareholders – STX itself, Azerbaijan Investment Company (AIC), State Oil Company of Azerbaijan Republic (SOCAR), and Azerbaijan State Caspian Shipping Company (Kaspar). insisted that STX should acquire an equity stake of at least 35% of shares to make the latter to be more interested in the project operatorship and to raise more investments from abroad.

28 Nov 2007

Trouble Arise for Factory in Baku

Plans of Ministry of Transport of Azerbaijan for expansion of new Baku International Sea Trade Port (in Alat settlement of Garadagh region) effected projecting of Caspian Shipbuilding Factory. Azerbaijani Government said that expansion of new port does not allow to determine definitely location of new factory. “Speed-up of the projecting is possible after expected projecting of new Baku Port in Alat in December-January,” the Government informed. The Factory will be able to produce whole spectrum of ships – from yachts to coarse tankers. The project will be realized by Korean STX and Azerbaijan Investment Company (AIC). STX has already completed the feasibility study and presentation of project of Caspian Shipbuilding Factory in Baku can be held in late November – early December.