SOCAR AQS lands new drilling services contract with Turkish Petroleum Corporation (TPAO)
SOCAR AQS Sondaj Mühendislik Sanayi ve Ticaret A.Ş (SOCAR AQS Türkiye), SOCAR AQS integrated drilling and well services management subsidiary, is pleased to announce that it has signed a critical drilling services contract with Turkish Petroleum Corporation (TPAO), state oil company of Republic of Türkiye.
Under the terms of the agreement, SOCAR AQS Türkiye will provide drilling services for the successful execution of four onshore oil-wells located in the southeastern region of Türkiye.
This agreement marks an important milestone for both organizations, representing a strategic partnership in the energy sector. It is expected to support the country’s overall oil production, as well as contribute to the employment in the region.
Samir Mollayev, General Director of SOCAR AQS said: “Leveraging its extensive experience and technology, SOCAR AQS Türkiye is committed to safely and efficiently deliver the operations and ensure maximum productivity throughout the project cycle.”
“This partnership between SOCAR AQS Türkiye and TPAO underscores a mutual commitment to drive growth and development in the region's energy industry. We look forward to utilizing our technical expertise and fostering a long-term relationship that will drive success for both parties,” added Famil Khalafov, Country Manager of SOCAR AQS Türkiye.
SOCAR AQS has earned the reputation of a reliable service provider by consistently exceeding client expectations through applying innovative technologies and deploying skilled and experienced workforce. The company will remain a trusted solution partner for TPAO’s possible future undertakings by committing to deliver safe and efficient results both for the existing and prospect campaigns.
About SOCAR AQS
SOCAR AQS is an integrated drilling and well services management company established in 2007 between State Oil Company of Azerbaijan Republic (SOCAR), Nobel Energy and Absheron Qazma LLC (AQS). The company has many years of experience in the field of oil and gas well drilling industry while providing advanced drilling technologies and applying new management methods. SOCAR AQS has pioneered innovative approach in the national drilling industry, and it has a proven track record of excellence in delivering safe and reliable solutions. SOCAR AQS is a member of International Association of Drilling Contractors since 2009, and it has fully complied with all applicable international standards.
Further information: https://www.socar-aqs.az/en
About SOCAR AQS Türkiye
SOCAR AQS Türkiye was founded in 2019 as a subsidiary of SOCAR AQS. The company signed a drilling contract with China CAMC Engineering Co., Ltd-IC İctas Construction Industries & Trade Inc. JV, the same year, for the Tuz Golu Underground Gas Storage Expansion Project in Türkiye. As part of the contract, SOCAR AQS Türkiye drilled and commissioned 40 wells in the Tuz Golu area of the Aksaray region of Türkiye. The expansion of the Tuz Golu underground gas storage was vital to meeting Türkiye's demand for natural gas, and SOCAR AQS Türkiye contributed to the success of this critical mission. ®
Economics
-
Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
-
The world faces a shortfall of up to $87 billion annually for climate adaptation efforts by 2030, according to Lord Livermore, Financial Secretary to the UK Treasury. Speaking at the panel discussion titled "Mobilizing for Climate Action: Countries, Multilateral Financial Organizations, and the Private Sector Implementing the Paris Agreement," Livermore highlighted the urgent need for increased investment in adaptation measures.
-
In the first nine months of 2024, Azerbaijan’s alcohol and non-alcoholic beverage production totaled a mere $53 million, underscoring the dismal outcomes of the State Program for the Development of Winemaking (2018–2025). Despite being endorsed by the president in 2018, the program has delivered lackluster results despite formal state funding. In essence, the state intervention intended to foster growth in the industry has yielded minimal success.
-
Azerbaijan and EIB Global, the European Investment Bank’s external branch, signed a Memorandum of Understanding (MoU) at the COP29 climate summit to modernize and expand the Baku metro network, officials said on Thursday.
Leave a review