The Singaporean Keppel Offshore & Marine Company has recently signed a memorandum of understanding in Baku, Azerbaijan, for the construction and operation of a new shipbuilding yard.
The facility will be built near the Baku Deep Water Jacket Plant owned by SOCAR (State Oil Company of Azerbaijan). Under the new project, the plant is envisaged to be constructed using the existing infrastructure at an estimated cost of between $300-350 million.
According to the Minister of Economic Development, the plant will be put into operation within 2-2.5 years after the start of construction, which is scheduled for late 2009 - early 2010. The plant will be able to provide ships for both Caspian Sea Oil Fleet and border services, the Ministry of Defence and other companies and entities operating in Azerbaijan.
The facility will be built near the Baku Deep Water Jacket Plant owned by SOCAR (State Oil Company of Azerbaijan). Under the new project, the plant is envisaged to be constructed using the existing infrastructure at an estimated cost of between $300-350 million.
According to the Minister of Economic Development, the plant will be put into operation within 2-2.5 years after the start of construction, which is scheduled for late 2009 - early 2010. The plant will be able to provide ships for both Caspian Sea Oil Fleet and border services, the Ministry of Defence and other companies and entities operating in Azerbaijan.