The State Oil Company of Azerbaijan Republic (SOCAR) and Baker Hughes signed a number of documents during the Energy Forward event in Baku, Report informs.
The first document is a Memorandum of Understanding (MoU) on the development and implementation of the concept on effective wells in upstream operations. The project aims to identify opportunities for an increase in effectiveness of new wells.
Another document was signed between Baker Hughes and SOCAR's Oil and Gas Research and Design Institute and aims to pave the way to produce reagents in the country for the oil industry on the basis of effective use of SOCAR’s existing plant in Azerbaijan.
Moreover, a delivery and acceptance certificate was signed for granting a license by Baker Hughes to Baku Higher Oil School for JewelSuite software. The software, which costs $1 million, will allow students to model the underground complex structures in the Caspian Basin