Baker Hughes Awarded Multi-year Contract With Azerbaijan’s SOCAR
15 June 2024Baker Hughes, an energy technology company, announced that an award from the State Oil Company of Azerbaijan Republic (SOCAR) to employ its electric submersible pump (ESP) technology and automated field production software solution, Leucipa, in the nation’s oilfields. The signing ceremony for the joint cooperation agreement took place in Baku in the presence of Baker Hughes CEO and Chairman Lorenzo Simonelli and SOCAR President Rovshan Najaf.
The first 50 of more than 150 ESPs are expected to arrive this year. The combined offering will provide increased optimization across SOCAR’s oilfield operations with expected efficiencies significantly reducing the number of workovers.
“Baker Hughes and SOCAR have long worked together to employ innovative approaches to the oil and gas industry in the Caspian,” Simonelli said. “Technology remains essential to achieve sustainable energy development, and our proven production solutions generate shorter-cycle, lower-cost and lower-carbon barrels for our customer.”
The project will also have a significant local impact. The two companies will establish a joint center of excellence that will have the capability to manufacture, assemble, repair and maintain the ESPs. Baker Hughes will also invest in local workforce training initiatives.
Related
-
Chinese firm wins facade work on world’s tallest tower
31 October 2024
-
Thiess-Khishig Arvin Joint Venture secures three-year mining services contract in Mongolia
31 October 2024
-
QatarEnergy partners with TotalEnergies for 1.25GW solar project in Iraq
30 October 2024
-
Tadweer Group signed agreement for waste to energy plant in Uzbekistan
30 October 2024
-
Chinese firm to invest $1b in Pakistan Refinery Limited
29 October 2024
-
Romanian hydropower group Hidroelectrica unveils EUR 280 mln investment plans
29 October 2024