Saipem Awarded 1.8 Billion Contract for Shah Deniz Stage 2

Shah Deniz consortium awarded a new offshore Engineering & Construction contract in Azerbaijan to Saipem for a total amount of approximately $1.8 billion.

The consortium operated by UK-headquartered BP announced its decision for the Stage 2 development of the Shah Deniz field on Wednesday.

“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,” Saipem CEO Umberto Vergine commented in a note.

According to Eni’s subsidiary, the field is located 90 kilometres offshore Azerbaijan, in water depths ranging from 75 to 550 metres.

‘The scope of work of the contract includes the transportation and installation of jackets, topsides and subsea production systems and subsea structures, the laying of over 360 km pipelines, diving support services and the upgrade of the Pipelay Barge Israfil Huseinov (PLBH), Dive Support Vessel Tofiq Ismailov (DSV) and Derrick Barge Azerbaijan (DBA) installation vessels. The project will be completed by the end of 2017,’ explained Saipem in the press release 

In the last month, the company has been awarded two contracts for the construction of the offshore section of the South Stream project.