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21.12.2015 12:04

KCA DEUTAG signs large contracts with BP for projects in Azerbaijan

UK’s drilling and engineering contractor KCA Deutag has signed two contracts with BP in Azerbaijan.

KCA Deutag reports that the contracts have a combined value of approximately $360 million for the initial contract or $1 bn including all options and concern management of BP’s drilling works in the Caspian region.

“The first contract has been awarded to KCA Deutag’s offshore division and is for the operations and maintenance of seven platforms operated by BP in the Caspian Sea pursuant to product sharing agreements. These are the East, West and Central Azeri, Deepwater Gunashli, West Chirag, Chirag and Shah Deniz installations. The initial term is for three years with two three year extension options,” the Company said.

The second contract has been awarded to RDS, KCA Deutag’s engineering and design specialist, and is for engineering support services on all drilling packages for projects in the Caspian Sea that are operated by BP from the Azerbaijan, Georgia and the Turkey Region. This contract is effective from 1 December 2015 to 30 September 2017 with two extension options of one year each.

The BP’s projects in Azerbaijan are employing approximately 750 people in Azerbaijan, 75% of whom are Azerbaijani nationals. The group has been operating in the country since 1995.

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