Fugro to form joint venture for underwater surveying for oil company Socar, Azerbaijan
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 & 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.
Leading player in offshore survey
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 & gas companies and major EPC contractors with a modern fleet of AUVs and ROVs.
Fugro currently operates offices & workshops in Baku with more than 50 permanent staff.On shore and off shore (Caspian Sea) oil (green) and gas (red) fields of Azerbaijan.
About Socar 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.
This news item was originally published on the website of Fugro.
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