British energy services firm expands footprint in Azerbaijan

UK-based Interocean Group has forged a strategic partnership with Baku-headquartered shipping company Green Line Shipping to bolster its footprint in Azerbaijan and expand its operations across the wider Caspian region. 

The strategic partnership will combine Interocean Group’s international standards, corporate governance frameworks and technical expertise with Green Line Shipping’s local market knowledge and operational capabilities, Caliber.Az reports per local media.

The collaboration is structured as a strategic non-equity partnership and does not involve a merger or acquisition of either company’s business.

Under the agreement, the two companies will jointly evaluate potential projects and develop suitable implementation models across several areas, including marine and offshore energy services, ship management, marine insurance and integrated asset solutions.

Founded in 2007, Interocean Group provides marine and engineering services, asset integrity management and support to the energy sector. The company currently operates in 17 countries worldwide.

By Vafa Guliyeva