"Azneftkimyamash-Balakhany machine-building plant" OJSC was founded in 1883 by the "Rothschild" company. In 1920, the enterprise operated under the name Balakhani oil axes plant.

 Since 1991, it has been operating under the name "Balakhani Machine-Building Plant". Since 2001, in connection with the structural reforms carried out in the shipbuilding industry, the enterprise has operated under the name "Balakhani Machine-Building Plant" as part of "Azneftkimyamash" OJSC.

"Azneftkimyamash-Balakhani machine-building plant" OJSC by the Ministry of Justice of the Republic of Azerbaijan dated 24.12.2001 No. D-3359 (TIN 9900012761) OJSC "Azneftkimyamash" by the Ministry of Justice of the Republic of Azerbaijan No. D-3350 dated 24.12.2001 (TIN 9900019091) was reorganized as a result of joining the state-registered "Balakhani machine-building plant" OJSC and is the legal successor of that legal entity.

 "Azneftkimyamash-Balakhani Machine-Building Plant" OJSC currently produces drill axes, taps, milling cutters, collets, elevators, wrenches, pipe holders, calibrators and other drilling equipment for the oil industry, as well as various holding and cutting emergency tools.

The enterprise consists of mechanical-assembly, blacksmith, mechanical-repair, welding shops, finished product, material warehouses and administrative building. The total area of the plant is 2.7 hectares.

 Also, within the enterprise, there is a Training Center for personnel certification, which has the certificate AZ 04.0674.01.22 20.05.2022 of the Azerbaijan Accreditation Center. The training center provides personnel certification in the following areas:

 - Specialist in the operation of lifting devices and equipment for lifting (loading-unloading) operations;

 - Specialist in welding and gas cutting;

 - Specialist in performing coloring works;

 - Specialist in operation, installation, assembly and repair of mechanical devices and equipment;

 - Specialist in electrical engineering and low-voltage electrical systems;

 - Specialist in mechanical processing of metals;

 - Specialist in heating, ventilation and conditioning systems and equipment;

 - Oil and gas specialist.

 Note that the enterprise has the ISO 9001:2015 quality management system certificate and the equipment produced by the enterprise has Conformity certificates.