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SOCAR Cape has extended its contract with BP-Azerbaijan for two years for rendering of technical services as part of offshore and onshore works in Azerbaijan.

SOCAR Cape, a joint venture of Azerbaijan’s state oil company SOCAR and the UK’s energy services company Cape plc, reported that on December 22 the contract value exceeds $90 million.

The joint venture was established in June 2010. SOCAR owns 51 percent of the share in the company, while Cape holds 49 percent.

Cape is an international leader in the provision of critical industrial services principally to the energy and natural resources sectors.

Its multi-disciplinary service offering includes access systems, insulation, specialist coatings, passive fire protection, refractory linings, environmental services, oil and gas storage tanks and heat exchanger replacement and refurbishment.

Azerbaijan’s energy giant SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.

Three production divisions, two oil refineries and one gas processing plant, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions are operating as corporate entities under SOCAR.

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