SOCAR AQS creates a JV with Halliburton


February 10, Fineko/abc.az. SOCAR AQS has signed a Memorandum of Understanding with Halliburton on the establishment of a joint venture on the provision of materials and services for the oil industry in Azerbaijan.

According to SOCAR AQS, the new JV will operate in Azerbaijan both on land and at sea. The beginning of JV’s operation is scheduled for the 2nd quarter of 2020.

"By combining our knowledge, experience and infrastructure in Azerbaijan with Halliburton's capabilities, we’ve created a strategic platform for joint expansion of operations in Azerbaijan," said Ramin Isayev, CEO at SOCAR AQS.

"We believe the JV will focus on providing high-quality services in line with the growing needs for materials and equipment in the region's oil & gas industry," said Ahmed Kenawi, senior vice president of Halliburton in Europe, Eurasia and Sub-Saharan Africa.