Saipem Bags USD 1.3 Bln Shah Deniz Gig

Saipem and its consortium partners Bos Shelf and Star Gulf have secured USD 1.5 billion Shah Deniz Stage 2 contract from BP.

Saipem share in the contract is approximately USD 1.3 billion, the company informed.

The contract duration is for five years plus a possible extension for a further five years.

The scope of work includes the transport and installation of subsea production systems and subsea structures, laying of fiber optic cables and production umbilicals, laying of 90 kilometers of pipelines, the activation, crewing and operations management of the newbuild subsea construction vessel (SCV) Khankendi, the SCV diving support, remotely operated vehicle (ROV) support and marine base management post 2017.

According to BP, the contract scope is planned to be completed by the middle of 2022, with a five-year option to extend the contract to cover the installation of remaining trees, flying leads and jumpers at the East-South, East-North and West-South subsea flanks between 2022 and 2027.

Stefano Cao, Saipem CEO, said: “We are delighted to have secured this major award, which enables us to continue and consolidate our 20-year relationship with BP and Socar in Azerbaijan and to put our world-class people and technologies at their disposal for the timely and efficient delivery of Shah Deniz Stage 2. This award also further strengthens Saipem’s key role in the construction of the Southern Gas Corridor where the company has a total of four contracts, in the upstream segment and in gas transportation infrastructure both onshore and offshore.”

The Shah Deniz field is located 90 kilometers offshore Azerbaijan, in water depths from 75 meters to 550 meters.

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