Fugro and Azeri state oil company Socar are forming a joint venture to deliver bathymetric, geophysical and geotechnical surveys, the provision of autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs), diving services and general positioning support on- and offshore, both onshore and offshore Azerbaijan.
The agreement to form Socar Fugro LLC in which Fugro has a 49% interest and Socar 51% builds upon an agreement signed in 1995 to establish Azeri-Fugro Ltd when Fugro first began working in the Caspian region.
Fugro says that, over the past 20 years, it has established itself as the leading player in the offshore survey and geotechnical markets in Azerbaijan.
In addition, the Dutch group provides underwater support to oil and gas companies and major EPC (engineering, procurement and commissioning) contractors with a modern fleet of AUVs and ROVs.
Fugro currently operates offices and workshops in Baku with more than 50 permanent staff.
Formal establishment of the new company requires standard regulatory approval which is expected shortly.
On another front, Fugro has secured a contract with DOF for the provision of precision satellite positioning for the Norwegian company’s fleet of more than 70 vessels globally.
The contract is for five years firm, plus two one-year options. It also covers new tonnage recruitment by DOF over that period.
A key part of the agreement is that Fugro will provide DOF with three completely independent high precision differential global navigation satellite systems.