Daily Newsletter

11 October 2023

Daily Newsletter

11 October 2023

Turan Drilling & Engineering secures $300m contract extension

The scope of the contract will see Turan offer drilling, maintenance, procurement and warehouse management services.

Shivam Mishra October 10 2023

Turan Drilling & Engineering (Turan) has secured a $300m (510m manat) contract extension for drilling and maintenance work offshore Azerbaijan.

Turan said the two-year extension will be effective from April 2024.

The scope of the contract will see the oil and gas services provider offer drilling, maintenance, procurement and warehouse management services across eight offshore platforms.

Without disclosing the name of the contractor, the company said the work is for an existing customer in the country.

Turan is a joint venture between KCA Deutag, a drilling and engineering contractor, and SOCAR AQS, an Azeri energy services company.

Based in Baku, the company was founded in 2018 and operates in the Caspian region.

Turan Drilling & Engineering general director Ed Wheler said: “Securing this extension is a testament to our dedication to delivering customer-centric solutions in terms of technology, automation and energy optimisation projects while upholding exceptional safety standards and consistently achieving operational excellence in partnership with our customer.

“We take immense pride in our long-standing presence and contributions to Azerbaijan’s local resource development by employing over 800 people in the country. This extension reaffirms our commitment to the country and enables us to continue providing significant employment opportunities locally, further solidifying our successful partnership and bolstering the overall growth and progress of the area.”

In late September 2023, KCA Deutag secured contracts and contract extensions worth $379m (£310.15m).

The land drilling contracts, which span key markets in the Middle East, were awarded by new and existing customers in Saudi Arabia, Pakistan and Oman, KCA Deutag said.

Earlier in September, KCA Deutag bagged a $60m contract extension for drilling operations and maintenance services on two platforms offshore Angola.

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