Petrofac and SOCAR create a joint venture


    The State Oil Company of Azerbaijan Republic (SOCAR) and Petrofac have today signed a founding agreement for the establishment of a joint venture to benefit from commercial opportunities more effectively in the direction of training and education in the oil and gas, petrochemical fields of the country.

    Report informs, according to agreement, SOCAR share was determined 51%, Petrofac share 49%. The founding agreement was signed by SOCAR President Rovnag Abdullayev and Petrofac Head for International Engineering and Production Training, Karim Osseiran.

    The purpose of both companies in setting up a joint venture is to support development of knowledge and skills of oilmen by using their own capabilities. The new enterprise will provide training and education services based on tested, more perfect and up-to-date programs for employees working in the energy sector in Azerbaijan and energy projects in other countries.

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