Saipem announced Wednesday that it has won a new offshore engineering and construction contract in Azerbaijan worth $1.8 billion.
BP, on behalf of the Shah Deniz consortium, has awarded to the Saipem a transportation and installation contract for the Stage 2 development of the Shah Deniz field.
The field is located 55 miles offshore Azerbaijan, in water depths up to 1,804 feet.
The scope of work of the contract includes the transportation and installation of jackets, topsides, and subsea production systems and subsea structures.
Also included is the laying of over 223 miles pipelines, diving support services and the upgrade of the Pipelay Barge Israfil Huseinov , Dive Support Vessel Tofiq Ismailov, and Derrick Barge Azerbaijan installation vessels.
The project will be completed by the end of 2017.
Saipem CEO, Umberto Vergine, said, “The Caspian is a strategic area for the oil and gas industry and we have been working in the region since 1996. We have built a solid and unique presence in the area thanks to our capabilities and expertise in large and complex offshore projects. I’m very pleased that Saipem will be involved in the development of Shah Deniz Stage 2, which will ultimately deliver gas to Europe”.