bp renews long-term offshore O&M contract in Azerbaijan’s Caspian Sea

(WO) - bp has renewed a long-term offshore operations and maintenance contract in Azerbaijan’s Caspian Sea covering eight production platforms across its operated Azeri Chirag Gunashli (ACG) oil field and Shah Deniz gas development.

The renewed agreement with Turan Drilling & Engineering Company LLC—a joint venture between SOCAR AQS and Helmerich & Payne—has an initial term of five years, with three one-year extension options. Effective March 2026, the contract’s total value could exceed $1 billion if all options are exercised.

Under the contract, Turan will continue providing operations and maintenance services for bp-operated offshore platforms, including Central, East and West Azeri, Deepwater Gunashli, West Chirag, Chirag, ACE and Shah Deniz Alpha. Scope includes personnel support, maintenance execution, spare parts and warehousing management, as well as deployment of a dedicated asset integrity and fabric maintenance engineering team.

bp said the renewal supports its long-term strategy to develop Caspian resources efficiently while strengthening local capacity through partnerships with regional companies. The operator has maintained a presence in Azerbaijan for more than three decades and continues to prioritize safe and reliable operations across its offshore portfolio.

Turan’s contract renewal builds on decades of collaboration with bp in the Caspian and reflects continued investment in long-term offshore operations and asset integrity services in the region. Helmerich & Payne noted that its offshore business provides stable, contract-based activity that supports earnings visibility through market cycles.