Foster Wheeler subsidiary and SOCAR form joint company

A subsidiary of Foster Wheeler’s global engineering and construction group has signed a Memorandum of Understanding (MoU) to form a jointly owned company with the State Oil Company of Azerbaijan Republic (SOCAR) in the Republic of Azerbaijan.

SOCAR is a state-owned company engaged in the fields of oil and gas exploration, production, transportation and marketing and intends to build an oil, gas processing and petrochemical complex in Garadag, Republic of Azerbaijan.

The new jointly owned company will provide process, engineering, procurement, construction supervision and project management services associated with the development of the new oil, gas processing and petrochemical complex.