Turan Drilling & Engineering — a joint venture between US-based Helmerich & Payne (H&P) and Azerbaijan’s national oil company, Socar — has secured a major long-term contract renewal from BP. The agreement covers offshore operations and maintenance (O&M) for eight production platforms across BP's Caspian Sea assets, including the Azeri Chirag Gunashli (ACG) and Shah Deniz fields.
Effective March 2026, the contract features a firm five-year duration with three one-year extension options. If all extensions are exercised, the total value of the award could exceed $1 billion. Under the new agreement, Turan will manage personnel, maintenance execution, spare parts, and warehousing, while also deploying a newly formed asset integrity and fabric maintenance engineering team.
H&P leadership highlighted that the renewal solidifies a "one-team framework" that moves beyond the traditional operator-contractor model, ensuring stable, long-term activity profiles. The contract builds on H&P’s decades-long operational presence in the Caspian region, reinforcing the alliance to meet Azerbaijan's critical production goals safely and efficiently.
Track the full scope of the project on EICDataStream.