Petrofac-SOCAR JV Gets $100MM BP Deal

Petrofac-SOCAR JV Gets $100MM BP Deal
A Petrofac-SOCAR joint venture has secured a services contract with BP Azerbaijan.

A Petrofac – SOCAR (State Oil Company of the Republic of Azerbaijan) joint venture (JV) has secured a services contract with BP Azerbaijan.

Under the five-year deal, which is said to be worth around $100 million, the JV will provide BP Azerbaijan with international payroll and personnel support services, including training services. 

“The service sector has contributed significantly to SOCAR’s income in recent years, with our joint venture with Petrofac becoming a major part,” SOCAR’s vice-president for HR, IT and regulations, Khalik Mammadov, said in a company statement.

“We are pleased to lift our partnership with BP to a new level and look forward to many decades of fruitful cooperation. Upskilling and reskilling of personnel is crucial for major companies in the age of Industry 4.0,” Mammadov added.

“That becomes even more important in view of the challenges brought by the current pandemic and recent associated market conditions. I strongly believe that the demand for professional training services among the leading oil and gas companies will continue to grow,” the SOCAR representative continued.

Patty Eid, the global head of Petrofac’s training services business, said, “BP are an important longstanding customer and we look forward to supporting them with international payroll and personnel support services including training services inside and outside of Azerbaijan”.

“Petrofac’s training services business has been providing skills development opportunities across the country’s oil, gas and petrochemical industries since 2004, so this award further underpins our continued expansion in the region with key partner SOCAR,” Eid added.

Petrofac describes itself as a leading international service provider to the energy industry. SOCAR is involved in exploring oil and gas fields, producing, processing and transporting oil, gas and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan, according to its website.

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