Our history
Socar Cape JV Secures New Long-Term Contract to Deliver Multi-Discipline Fabric Maintenance Services Across Azerbaijan and Georgia
Baku, Azerbaijan – July 2025 – Socar Cape is pleased to announce the renewal and expansion of its strategic partnership with bp, with the award of a new 7+3 year contract for the delivery of multi-discipline Fabric Maintenance services across bp’s operations in both Azerbaijan and Georgia. This agreement builds on a trusted relationship that has been in place since 2013 and marks the beginning of a significant new chapter for Socar Cape.
The renewed partnership reflects a bold transition in operational philosophy, aimed at delivering greater efficiency and value for our clients. The new contract introduces innovative technologies, smarter execution models, and targeted capital investment to improve performance and sustainability. By aligning more closely with bp’s forward-looking operational goals, Socar Cape is poised to deliver best-in-class solutions tailored to the evolving needs of the region.
This next chapter is firmly rooted in Socar Cape’s history. Formed in 2010 as a joint venture between the State Oil Company of the Azerbaijan Republic (SOCAR) and Cape plc, the company became part of the Altrad Group following its acquisition of Cape in 2017. Today, Socar Cape draws upon the combined strength, resources, and global expertise of both shareholders—SOCAR and Altrad—to drive regional growth and set new benchmarks in industrial services.
Cementing the Future.
The award of a new five-year contract with BP in 2022 was a milestone that celebrated our past achievements and heralded a future of promise and potential. This contract bridges our storied history and the unwritten chapters of success that lay ahead. It was a commitment etched not just on paper but in the spirit of every team member who had contributed to our journey.
A New Era with Altrad.
The acquisition of Cape by Altrad was a transformative event for SocarCape. It was a union that brought with it a vast network of resources and a global support system that was unparalleled. Our growth trajectory was recalibrated, with ambitious expectations set against a backdrop of new opportunities. The additional non-BP contracts we secured were not just business wins; they were affirmations of our growing reputation and the value we delivered. Our focus sharpened on specialist services, driving innovation not as a buzzword but as a tangible, actionable ethos. The capex secured during this period was a clear indicator of our commitment to investing in the future, in the tools, technologies, and talents that would carry us forward.
Expansion Through Acquisitions.
The acquisition of Hertel by Altrad marked a new chapter in our story, expanding our horizons and integrating a wealth of experience and resources into our operations. This strategic move was more than an acquisition; it was an infusion of new blood, bringing fresh perspectives and innovative approaches that would enhance our service delivery.
Strategic Milestones and Growth.
Three years into its operations, SocarCape had already begun to reshape the landscape of industrial services. The trust placed in us by BP, one of the world's leading oil and gas companies, was a testament to our unwavering commitment to quality and efficiency. The Fabric Maintenance contract was not just a project; it was a vote of confidence in our capabilities. The same year, our partnership deepened with Cape's investment, bolstering our financial strength and market presence. The SIP contract for BP's offshore and onshore assets was a crowning achievement that underscored our expertise and the synergistic power of our joint venture.
The Foundation of SocarCape.
In the bustling energy sector of 2010, SocarCape emerged as a beacon of innovation and collaboration. Established as a joint venture with a majority share held by the State Oil Company of Azerbaijan Republic (SOCAR) and a strategic minority share by the industrial services provider Cape, SocarCape was poised to make a significant impact in the industry. The venture was not just a business arrangement; it was a fusion of SOCAR's regional dominance and Cape's global expertise. With the ink still fresh on the contracts, SocarCape commenced its commercial activities, embarking on a journey to redefine service excellence.