Turan Drilling and Engineering Company (TURAN), a joint venture with Helmerich & Payne (H&P), has been awarded a long-term offshore operations and maintenance contract renewal by 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 March 2026. If all option periods are exercised, the contract value could exceed $1 billion.
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.
'This contract renewal reflects the strength of our long-standing partnership with bp and the consistent performance our teams have delivered in the Caspian region over multiple decades,' said Trey Adams, president, H&P. 'Our offshore operations provide long-term, contract-based services with predictable activity profiles, which differentiate this business within our portfolio and enhance the stability of our overall earnings through market cycles.'
'This new long-term drilling operations contract marks a renewed chapter in our longstanding Azerbaijan partnership,' said Ole Maier, senior vice president, offshore 'It establishes the foundation for a wells delivery alliance, which will be built on deeper collaboration, early engagement, shared performance objectives and a unified approach to delivering the production goals that the country requires. It establishes a refreshed operational relationship - one that is stronger and reshapes the traditional operator-contractor model into a true one-team framework. We look forward to enhancing the approach to solving problems together and unlocking mutual value.'
The award reflects TURAN’s long-standing operational presence in the Caspian region and builds on decades of safe and reliable offshore service delivery. H&P has operated in Azerbaijan since the mid1990s through its legacy offshore and engineering businesses and continues to support bp’s offshore assets with integrated drilling, maintenance, and engineering capabilities.
Source: Helmerich & Payne
