Saipem said Tuesday it was awarded a contract worth about €400 million ($554 million) for a second line of the South Stream Offshore Pipeline.
The entire offshore South Stream project will consist of four parallel gas pipelines, across the Black Sea from Russia to Bulgaria, each 931 kilometers long, to be laid at depths of up to 2,200 meters.
Saipem, a subsidiary of Italian oil giant Eni, said it will perform additional supporting works, including engineering, coordination of storage yards, cable crossing preparation, and connecting the offshore pipeline to the landfall sections through tie ins.
The work relating to construction of the second line is schedule to be completed by the end of 2016.
The new work was awarded under an addendum to the contract with South Stream Transport BV the first line of the South Stream Offshore Pipeline project signed on March 14 this year, Saipem said.
South Stream Transport is an joint venture among Gazprom (50%), Eni (20%), EDF (15%) and Wintershall (15%).
