KCA Deutag strikes joint venture in Azerbaijan

Aberdeen-based KCA Deutag and Socar AQS have formed a joint venture that will target opportunities in the Caspian drilling and engineering market.

The new venture, which will be jointly owned and managed, will be called Turan Drilling & Engineering and will be based in based in Baku, Azerbaijan.

KCA Deutag chief executive Norrie Mckay said: “This is an exciting step in the group’s strategy to develop our business in the Caspian region.

“It brings together two businesses with complementary skillsets, which we believe will strengthen our offering to clients and enable us to jointly expand our footprint in the region.”

KCA Deutag employs 780 people in Azerbaijan.