The Financial Express

Azerbaijan’s drilling co eyes to expand activity in Bangladesh

| Updated: September 13, 2018 14:37:49

Azerbaijan’s drilling co eyes to expand activity in Bangladesh

Azerbaijan’s drilling company SOCAR-AQS intends to expand its activity in Bangladesh, director general of the company Ramin Isayev told Trend on August 20.

Earlier, SOCAR-AQS won a tender for drilling operations in the country, according to a report published on www.hellenicshippingnews.com.

 The contract, concluded in the 3+1 format, provides for the drilling of four wells.

The cost of the work is estimated at $35 million. Work on the first well is planned to finish in September this year.

“The work on each of the wells is expected to be carried out in approximately 50-60 days, depending on their depth.

The wells are located at a distance of 60-100 kilometers from each other.

After completion of work on one well, the drilling rig is dismantled and then again assembled at the site of drilling a new well,” Isayev said.

He added that in general, the government of Bangladesh has plans to drill 108 exploratory wells, and SOCAR-AQS would like to participate in these works, given that the company has the drilling rig and employees in Bangladesh.

The director general also said that the company intends to gradually develop new foreign markets.

“This requires new human resources. We can purchase any equipment, however, we need experienced personnel capable of managing this equipment,” he noted.

SOCAR-AQS was established in 2007 as an integrated drilling and well services management company between the State Oil Company of Azerbaijan Republic (SOCAR) and Absheron Drilling Company (AQS) in 2007.

Main scope of activities of the company is provision of work and services related to drilling of oil and gas wells.

Currently, the company implements drilling works at Gunashli, Western Absheron, Umid and Bulla Deniz fields.


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