Italian Saipem Will Carry Out Work at Shah Deniz and ACG for $300 Million
BP has signed a $300 million contract with a consortium led by Italy’s Saipem for work on the Shah Deniz and Azeri-Chirag-Gunashli (ACG) offshore projects in Azerbaijan.
Under the contract, Saipem, in cooperation with BOS Shelf and BOS Shelf International, FZCO agreed with the operator of Azerbaijani projects BP on underwater construction in the Caspian Sea off the coast of Azerbaijan. Offshore Technology does not specify what kind of work will be carried out. But it is known that Saipem will receive $250 million of the total contract amount.
The Shah Deniz gas field is considered one of the largest gas condensate fields in the world with reserves of 1.2 trillion cubic meters. In June, Hungarian state-owned MVM agreed to buy a 5% stake in the project.
