SOCAR, Baker Hughes sign Cooperation Agreement
Baku, June 14, AZERTAC
The State Oil Company of the Republic of Azerbaijan (SOCAR) and Baker Hughes have signed a Cooperation Agreement.
The document, inked by SOCAR President Rovshan Najaf and Chairman and CEO of Baker Hughes, Lorenzo Simonelli, envisages assembly, repair and maintenance of electric submersible pumps (ESP) in Azerbaijan.
The agreement signed between SOCAR’s Azneft Production Union and Baker Hughes Services International LLC, includes establishment of a new center to assembly electric submersible pumps. The first 50 of more than 150 ESPs are expected to arrive this year.
Through strategic collaborations and experience exchanges with partners, as well as the introduction of innovative approaches and new technology, SOCAR aims to further improve its activities and achieve new breakthroughs.
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