BP extends with Socar Cape JV (Azerbaijan)
Cape plc, a UK-based oilfield services firm, has via its Socar Cape joint venture won a contract extension from BP in Azerbaijan.
The two-year extension is for the provision of Fabric Maintenance Services at its onshore and offshore assets in Azerbaijan. The contract has an estimated value of over $90 million.
Joe Oatley, Chief Executive of Cape, said: “We are delighted to announce the award of this contract extension which demonstrates BP’s confidence in the quality and efficiency of the services provided by our SOCAR Cape joint venture.”
Cape noted the recent announcement of the devaluation of the Azerbaijani currency, manat.
“It is too early to determine the effect of this devaluation on the Azerbaijan economy and the SOCAR Cape joint venture remains focused on delivering a high quality and safe service to all of its customers within the country,” the company said.