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Turan Drilling And Engineering Joint Venture With Helmerich & Payne Secures Offshore Operations And Maintenance Contract Worth Up To $1B Over Five Years

Benzinga·02/19/2026 14:17:16
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The contract renewal has a firm duration of five years, with three one-year extension options, and is effective March 2026. If all option periods are exercised, the contract value could exceed $1 billion.

Under the agreement, TURAN will provide operations and maintenance services for eight offshore platforms, delivering a service scope that covers personnel, maintenance execution, spare parts, warehousing and the deployment of a newly established asset integrity and fabric maintenance engineering team.