SOCAR, Saudi Arabia's TAQA plan joint drilling operations

BAKU. Dec 24 (Interfax) - The Integrated Drilling Operations Trust (IDOT) of the State Oil Company of the Azerbaijani Republic (SOCAR) has signed a memorandum of understanding with the oilfield services company TAQA Well Services (Saudi Arabia).

Agreements on cooperation were reached at a meeting with a delegation from TAQA Well Services last week in Baku, the trust said on the social network LinkedIn.

During the meeting, specialists from the Saudi company presented proposals for the effective implementation of projects using technical expertise, innovative methods, ecosystem approaches and a decarbonization strategy, the company said. The parties also discussed the possibility of launching joint drilling operations in Azerbaijan with a reduction in carbon emissions through the proposed methods without harm to the environment, it said.

The trust has been operating since 2007. During this period, the enterprise has drilled wells with a total depth of around 1.7 million meters, successfully completing exploration, appraisal and development drilling operations at nearly 30 fields onshore and offshore.

TAQA Well Services/TAQA Well Solutions is part of the international energy company TAQA, which provides engineering and service solutions for the oil and gas industry, including drilling, completion and well services.

TAQA, founded in Saudi Arabia in 2003, positions itself as one of the largest providers of energy services, operating in more than 20 countries and which has over 5,500 employees.