KCA Deutag joint venture wins £382.2m BP contract

Turan Drilling & Engineering, a joint venture from Aberdeen-based KCA Deutag, has won a £382.5million contract with BP.

The contract is for operation and maintenance of seven drilling rigs in the Caspian Sea for a five year period.

It also has two one-year extension options which, if exercised, would take the total contract value up to £535m.

The work includes operations on Shah Deniz, one of the world’s largest gas-condensate fields, estimated to hold more than a trillion cubic metres of gas and two billion barrels of condensate.

Turan is a joint venture set up last July by KCA Deutag and Azerbaijan’s Socar AQS, combining the Aberdeen firm’s drilling expertise with Socar’s knowledge of the Caspian.

Norrie McKay, CEO of KCA Deutag, said: “KCA Deutag has worked in the Caspian for a number of years now, and we are delighted BP has recognised the strength of our new Azerbaijani joint venture with the award of this substantial contract to Turan Drilling & Engineering.

“The Caspian onshore and offshore drilling and engineering market continues to be highly active, and we believe that our local presence puts us in a strong position to take advantage of other business development opportunities as they arise.”

The rigs Turan will work on are East, West and Central Azeri, Deepwater Gunashli, West Chirag, Chirag and Shah Deniz installations.

Nasib Hasanov, founder of Nobel Oil Services, SOCAR AQS’s major shareholder, said: “This contract represents client recognition of our joint venture’s capability and capacity to deliver complex projects with the application of the highest industry standards.”

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