Helmerich & Payne joint venture awarded contract renewal by BP in Caspian Sea

Turan Drilling and Engineering, a joint venture with Helmerich & Payne (HP), has been awarded a long-term offshore operations and maintenance contract renewal by BP (BP) in the Caspian Sea, offshore Azerbaijan. The contract renewal has a firm duration of five years, with three one-year extension options, and is effective in March. If all option periods are exercised, the contract value could exceed $1B. Under the agreement, Turan will provide operations and maintenance services for eight offshore platforms, delivering a service scope that covers personnel, maintenance execution, spare parts, warehousing and the deployment of a newly established asset integrity and fabric maintenance engineering team.