BP Renews Over $1B Contract with Turan Drilling
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 19 2026
0mins
Turan Drilling and Engineering, a joint venture with Helmerich & Payne (HP), has been awarded a long-term offshore operations and maintenance contract renewal by BP (BP) in the Caspian Sea, offshore Azerbaijan. The contract renewal has a firm duration of five years, with three one-year extension options, and is effective in March. If all option periods are exercised, the contract value could exceed $1B. 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.
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Analyst Views on HP
Wall Street analysts forecast HP stock price to fall
13 Analyst Rating
6 Buy
6 Hold
1 Sell
Moderate Buy
Current: 35.220
Low
26.00
Averages
31.45
High
36.00
Current: 35.220
Low
26.00
Averages
31.45
High
36.00
About HP
Helmerich & Payne, Inc., through its subsidiaries, designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. It develops and implements advanced automation, directional drilling and survey management technologies. Its segments include North America Solutions, International Solutions, and Offshore Gulf of Mexico. The North America Solutions segment has operations which are located in Texas and other states, including Colorado, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Utah, and West Virginia. The Offshore Gulf of Mexico segment has operations that are located in Louisiana and in the United States federal waters in the Gulf of Mexico. The International Solutions segment has rigs and/or services located in five international locations: Argentina, Australia, Bahrain, Colombia, and Saudi Arabia. It owns and operates a number of commercial real estate properties located in Tulsa, Oklahoma.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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