Printer Friendly

MCDERMOTT AND SOCAR ANNOUNCE JOINT VENTURE

 NEW ORLEANS, May 7 /PRNewswire/ -- The State Oil Company of Azerbaijan Republic (SOCAR) and McDermott International, Inc. (NYSE: MDR) announced the signing today of a protocol of cooperation to form a joint venture for shipyard operations in the Caspian Sea.
 SOCAR and McDermott are presently working jointly on several projects in the capital city of Baku including repair and upgrades of marine equipment in the local shipyard owned by SOCAR to support the development of Azerbaijan's offshore oil and gas developments. The protocol was signed by Sabit Bagirov, president of SOCAR and William L. Higgins, executive vice president and group executive of McDermott's Engineering and Industrial Group at a conference at the National Press Club in Washington. The protocol complements previous agreements negotiated between SOCAR and McDermott for engineering, project management, fabrication, and marine installation operation in the Caspian Sea.
 McDermott International, Inc. is a leading worldwide energy services company. The company and its subsidiaries manufacture steam-generating equipment, environmental equipment, and government and aerospace products. They also provide engineering and construction services for industrial and utility facilities onshore, and to the oil and gas industry offshore.
 -0- 5/7/93
 /CONTACT: Don Washington of McDermott, 504-587-4080/
 (MDR)


CO: McDermott International, Inc.; State Oil Company of Azerbaijan
 Republic ST: Louisiana IN: OIL SU: JVN


RA-BR -- AT010 -- 6017 05/07/93 14:17 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 7, 1993
Words:222
Previous Article:THE NEWS CORPORATION LIMITED HIGHLIGHTS FROM ATTACHED REPORT TO AUSTRALIAN STOCK EXCHANGES FOR THE NINE MONTHS ENDED MARCH 31, 1993
Next Article:CHARTER FEDERAL ANNOUNCES INCREASE IN THIRD QUARTER NET OPERATING EARNINGS OF 43 PERCENT AND GOODWILL WRITE-OFF OF $41.1 MILLION
Topics:


Related Articles
UNOCAL ASSIGNED 16 PERCENT OF FOREIGN PARTICIPATION IN UNITIZED DEVELOPMENT OF THREE OIL FIELDS OFFSHORE AZERBAIJAN
CHEVRON TO EVALUATE EXPLORATION POTENTIAL OF CASPIAN SEA OFFSHORE AZERBAIJAN
SOCAR, McDERMOTT ANNOUNCE AGREEMENTS FOR CASPIAN SEA JOINT VENTURES
HALLIBURTON AND MCDERMOTT DISCUSS SCOTTISH JOINT VENTURE
EXXON TO ACQUIRE INTEREST IN AZERBAIJAN PROJECT
EXXON/SOCAR SIGN MEMORANDUM OF UNDERSTANDING ON TWO CASPIAN SEA EXPLORATION BLOCKS
AZERBAIJAN - Socar's Gas Production.
AZERBAIJAN - The Inam JV.
AZERBAIJAN - The Oguz JV.
AZERBAIJAN - LUKoil Operations & The Yalama JV.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters