Nobel Oil Services announces today that it has signed a joint venture (JV) agreement with Archer Assets UK Limited (Archer) and SOCAR-AQS to establish Oğuz Drilling, a new platform drilling company in Azerbaijan.
With support from Nobel Oil Services, Archer and SOCAR-AQS, the Oğuz Drilling joint venture will provide world-class platform drilling services, including drilling facilities design, modification and drilling support services. Oğuz Drilling will train and develop Azerbaijani national employees to the highest standards of international drilling industry. The JV company plans to work with local authorities and institutions to ensure implementation of world-class best practices in safety, efficiency and reliability within platform drilling services.
“Nobel Oil Services is delighted to join forces with SOCAR-AQS and Archer to position Oğuz Drilling as a leading platform drilling service provider in the Caspian Sea and the wider international market. The joint venture will build on Azerbaijan’s proud 167-year history in the drilling industry and Archer’s international experience to provide world-class drilling services to its clients, commented Mike Wring, CEO of Nobel Oil Services, Ltd.
Creation of the joint venture reflects Nobel Oil's growth strategy which is aimed at setting up partnerships with recognised, reputable Western firms from the industry and enhance its presence at the Azerbaijani market.
“The Oğuz Drilling joint venture represents an ideal combination of Archer’s global presence and over 40 years of platform drilling experience, with SOCAR-AQS and Nobel Oil Services extensive drilling industry experience in Azerbaijan, said John Lechner, President North Sea and EVP Archer. We look forward, together with our partners, to demonstrate our expertise and commitment to safety in the Azerbaijani and Caspian Sea drilling market.”
"SOCAR-AQS, a successful integrated drilling services company in Azerbaijan, is pleased to be a founding partner of Oğuz Drilling, a new drilling company for Azerbaijan with truly international mindset and standards," said Ramin Isayev, General Director of SOCAR-AQS. “Oğuz Drilling will apply the most advanced drilling management systems, the best talent and expertise, and the partners’ well-established logistical and training and development infrastructure to support clients’ success in platform drilling projects."
The new drilling Joint Venture, Oğuz Drilling will be registered in Azerbaijan and located in Baku.