SOCAR becomes rightful owner of Bos Shelf Company

18.09.2012 [11:07]
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Baku, September 18 (AZERTAC). Azerbaijani State Oil Company, SOCAR, will become a contractor for projects implemented under BP operatorship in Azerbaijan, SOCAR President Rovnag Abdullayev told journalists on Monday.

"The Bos Shelf Company, which is wholly owned by SOCAR, will act as a contractor," Abdullayev said. "Whereas earlier foreign companies acted as contractors, now a local company will act as one."

Earlier, SOCAR and Star Gulf FZJO, a company of SAIPEM Group and SOCAR, had equal shares in Bos Shelf.

The SOCAR head said McDermott, Saipem and other major companies which previously operated as contractors will act as subcontractors of Bos Shelf thereafter.

"Bos Shelf will use the services and assets of the Heydar Aliyev Baku Deep Water Jacket Factory," Abdullayev said.

With regard to a possible merger of the Bos Shelf Company and Heydar Aliyev Baku Deep Water Jacket Factory resulting in the laying off of the plant's employees, Abdullayev said that this issue cannot come on the agenda. The plant will serve as the owner of assets in the future and Bos Shelf will use them and services provided by the plant. He said staff-cuts are out of the question and highly qualified personnel will continue to work and undergo the necessary training to further improve their skills.

SOCAR becomes rightful owner of Bos Shelf Company

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