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SOCAR tightens its grip on Caspian Sea oil & gas project with Itochu stake buyout

The State Oil Company of the Republic of Azerbaijan (SOCAR) has strengthened its hold on a giant oilfield in the Caspian Sea by acquiring Itochu Corporation’s participating interest, increasing its ownership in the oil and gas project off the coast of Azerbaijan as the Japanese trading and investment conglomerate exits the project. The post SOCAR tightens its grip on Caspian Sea oil & gas project with Itochu stake buyout appeared first on Offshore Energy.

Valaris’ 2001-built rig wraps up its gig with BP ahead of schedule

Bermuda-incorporated offshore drilling contractor Valaris has confirmed the completion of its assignment with the UK-headquartered energy giant BP off the coast of Trinidad before the expected timeline. The post Valaris’ 2001-built rig wraps up its gig with BP ahead of schedule appeared first on Offshore Energy.