SOCAR AQS and China CAMC Engineering - IC İçtaş Construction signed the drilling contract for Tuz Golu UGS

SOCAR AQS and China CAMC Engineering Co., Ltd. - IC İçtaş Construction Industries & Trade Inc. JV are pleased to announce that they have signed drilling contract for the Expansion of Tuz Golu underground gas storage project. As per the contract, SOCAR AQS shall drill and deliver 40 wells in the Tuz Golu area of Aksaray region of Turkey. The contract value is estimated to be $100 million.

Murat Mehmet Kurtulush, General Director IC İçtaş said: “Today's signing ceremony gives a new impetus to the expansion and deepening of cooperation between the two companies and ultimately, between the two countries. The expansion of Tuz Golu underground gas storage is vital for meeting the natural gas demand of Turkey, and SOCAR AQS will contribute to successful execution of this mission.”

Ramin Isayev, CEO of SOCAR AQS said: “SOCAR AQS appreciates this significant opportunity to work with China CAMC Engineering Co., Ltd. - IC İçtaş Construction Industries & Trade Inc. on this important project. We look forward to utilizing full potential of our company, to working in close cooperation with our business partners and stakeholders to make this project a great success for Turkey, our Client and SOCAR AQS’’. During the implementation of the project, SOCAR AQS will also utilize infrastructure of local Turkish business partners and the company will invest in further training and development of young Turkish drilling specialists.

Reference

SOCAR AQS is an integrated drilling and well services company established in 2007 by the State Oil Company of Azerbaijan Republic (SOCAR) and Absheron Drilling Company. The company’s main scope of services includes oil and gas wells drilling, well design and planning, drilling of directionally deviated wells, drilling of horizontal wells, well completion, well workover, sidetracking and drilling of multilateral wells. Currently, SOCAR AQS executes oil and gas well drilling with 6 rigs on 5 platforms in 4 offshore oil and gas fields including Shallow Water Gunashli, West Absheron and Bulla. The company has 1112 employees, of which the majority are Azerbaijan citizens. SOCAR AQS has been awarded and implements contracts in Ukraine and Bangladesh. The company has been a contractor member of the IADC since 2009. SOCAR AQS has been certified as compliant with the API Spec Q2 Quality Management System Standard for the Provision of Integrated Offshore Oil & Gas Drilling & Well Services. SOCAR AQS’s shareholders are SOCAR, Nobel Oil Services and ‘’Absheron Qazma” LLC.

IC İÇTAŞ Locomotive company of IC İbrahim Çeçen Yatırım Holding A.S., IC İÇTAŞ CONSTRUCTION is a global company preferred in Turkey and international macro scale projects with its over 50 years long experience and knowledge and is on the front row in Turkish and international sector lists. Besides construction projects, company also successfully continues its activities in sea port and marina operation fields. IC İÇTAŞ CONSTRUCTION is an active player in production and distribution fields with its investments in the energy sector as well.

15:20 / 26 October, 2019

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