Shah Deniz consortium awards $1.5 bln subsea production contract
04.05.2016 10:00
The consortium developing the second phase of Azerbaijan's Shah Deniz gas field has awarded a $1.5 billion subsea production contract to a consortium involving Saipem SPMI.MI, BOS Shelf and Star Gulf FZCO, it said on Tuesday.
The group has won a contract to operate a Subsea Construction Vessel (SCV) to transport and install a deepwater subsea production system, said the Shah Deniz consortium, led by British oil major BP.
The consortium said the Shah Deniz 2 project was on track to deliver its first gas in 2018.
In a separate statement Saipem said its share of the contract was worth $1.3 billion.
The Italian oil services group said the contract would last five years with a possible extension for another five.
"This award also further strengthens Saipem's key role in the construction of the southern gas corridor," Saipem CEO Stefano Cao said.
In April Saipem won an order to lay the subsea Trans Adriatic Pipeline (TAP) that will bring Azeri gas into Italy.
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