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Iraqi Drilling Company signs Partnership Contract with SOCAR

By John Lee.

The Iraqi Drilling Company (IDC) has signed a partnership contract with SOCAR, the the state-owned oil and gas company of Azerbaijan, for drilling and oil-field services.

The Director General of the company, Bassim Abdul Karim, said that the contract involves collaboration in the field of drilling and reclamation of oil wells, noting that the term of the contract is three years, and may be extended.

The agreement follows a visit by Iraq’s Oil Minister, Ihsan Abdul-Jabbar Ismail, to Azerbaijan in September, and a visit by the General Director of Iraqi Drilling Company (IDC), Basim Abdulkareem, to SOCAR’s headquarters in January.

(Source: Ministry of Oil)

The post Iraqi Drilling Company signs Partnership Contract with SOCAR first appeared on Iraq Business News.

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Iraqi Drilling Company visits SOCAR AQS

By John Lee.

The General Director of Azerbaijan-based oil services company SOCAR AQS, Samir Mollayev, met with a delegation led by General Director of Iraqi Drilling Company (IDC), Basim Abdulkareem, on Tuesday.

At the meeting held in Socar’s Baku office, he informed the guests about the development of the oil and gas industry in Azerbaijan, and the drilling projects implemented by the company.

As part of the visit, the delegation visited the production and supply bases of the company, as well as the Baku Drilling School, an internationally accredited training centre established by SOCAR AQS.

(Source: SOCAR AQS)

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Iraq discusses Oil Cooperation with Azerbaijan

By John Lee.

Iraq’s Oil Minister Ihsan Abdul-Jabbar Ismail has visited Azerbaijan to discuss cooperation between the two countries in the field of oil and gas.

Azerbaijan’s Minister of Energy, Parviz Shahbazov, said it would be possible to supply Iraqi crude oil and oil products to the world market via SOCAR, the state-owned oil and gas company of Azerbaijan, adding:

“We can assess the prospects to expand energy cooperation.”

The Ministers also exchanged opinions on Iraq’s plans for renewable energy, and on the situation in the world energy market.

(Source: Azerbaijan Ministry of Energy)

The post Iraq discusses Oil Cooperation with Azerbaijan first appeared on Iraq Business News.

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MAX 8s for Silk Way

Azerbaijani carrier Silk Way has place an order for ten Boeing 737 MAX 8s, valued at $1.1bn at current list prices.  The manufacturer had previously attributed the aircraft to an unidentified customer.

“Silk Way’s success and profitability is a direct result of investing in its fleet and services and growing its regional and international footprint,” said Zaur Akhundov, President, Silk Way Group of Companies.  “I am confident we will maintain our rate of growth, supported by ten new Boeing 737 MAX 8 airplanes.”

The airline currently operates eight Boeing aircraft – all freighters – consisting of two 767-300Fs, three 747-400Fs and three 747-8Fs.

Marty Bentrott, Vice Oresident of Sales, Middle East, Turkey, Russia and Central Asia, Boeing Commercial Airplanes, said: “We are very pleased to expand our partnership with Silk Way with this airplane order.  We value our partnership with Silk Way and are grateful for their enduring confidence in the Boeing products.”