BP awards Saipem Caspian contracts worth $145 million

MILAN - Saipem, in consortium with Boshelf LLC and STAR GULF FZCO, has recently been awarded three new contracts by BP for the development of the Azeri-Chirag-Gunashli oil and gas (ACG) field offshore Azerbaijan.

Saipem has been a key contractor in this field since the 1990s. Located in the Caspian Sea at approximately 120 kilometers from the coast of Azerbaijan, the field extends over an area of more than 4,000 square kilometers and is one of the largest of its kind in the world.

Specifically, two contracts are for pipeline design, pipelay and related activities, while the third is for transportation & installation of four jacket pin piles, subsea structure and spools.

Saipem’s share of the overall value of the three contracts is approximately $145 million USD.

Saipem has obtained one of these contracts as a result of the FEED phase awarded by BP to Saipem’s XSIGHT Division, in consortium with local partners Bos Shelf and Star Gulf, which were engaged from an early stage and on a fast track basis. This excellent result has been achieved thanks above all to collaboration between Saipem’s XSIGHT and Offshore E&C Divisions, a synergy that will be maintained to ensure continuity and efficiency to the execution of the EPCI project.