SOCAR, Baker Hughes sign cooperation agreement
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ECONOMICS  14 June 2024 - 10:30

A Cooperation Agreement has been signed between the State Oil Company of the Azerbaijan Republic (SOCAR) and Baker Hughes.

Centrifugal electrical submersible pumps (MEDN) will be assembled and repaired in Azerbaijan according to the document signed by SOCAR President Rovshan Najaf and CEO of Baker Hughes Lorenzo Simonelli, SOCAR told Report.

According to the agreement between SOCAR Azneft Production Union and Baker Hughes Services International Inc, a new centre will be created for assembling centrifugal electrical submersible pumps. At the initial stage, 50 kits will be supplied to Azerbaijan.

The innovative approach that will be implemented will simplify processes and increase efficiency and productivity. As a result of using the new technology, it will be possible to avoid the difficulties with previous submersible pumps, including production downtime due to maintenance and loss of productivity. The exceptional reliability will be ensured in the operation of submersible pumps thanks to an innovative approach by greatly increasing their service life.

SOCAR strives to further improve its activity and achieve success through strategic cooperation and exchange of experience with partners, as well as innovative approaches and the introduction of new technologies.

Caliber.Az