SOCAR-AQS signed a joint venture (JV) agreement with Archer Assets UK and Nobel Oil Services to establish Oğuz Drilling, a new platform drilling company in Azerbaijan, with a focus on the Caspian Sea.
With support from SOCAR-AQS, Archer and Nobel Oil Services, the Oğuz Drilling joint venture will provide platform drilling services, including drilling facilities design, modification and drilling support services. Oğuz Drilling will train and develop Azerbaijani national employees and work with local authorities and institutions to ensure implementation of best practices in safety, efficiency and reliability. Oğuz Drilling will be registered in Azerbaijan and located in Baku.
SOCAR-AQS LLC is an integrated drilling and well services management JV between the State Oil Co. of Azerbaijan Republic and Absheron Drilling Co., and was established in 2007. Archer is a global oilfield service company. Nobel Oil Services provides drilling, engineering, project management, maintenance, procurement and enhanced oil recovery services in Azerbaijan and regionally.
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