Saipem wins Shah Deniz contract worth $1.8B

|About: Saipem S.p.A. ADR (SAPMY)|By:, SA News Editor

Saipem (SAPMY) says BP awarded the company and its partners a ~$1.8B contract to perform offshore work for the Shah Deniz consortium in Azerbaijan.

The Italian contractor will transport and install jackets, topsides and subsea infrastructure and lay more than 360 km of pipelines at the Caspian Sea project.

Saipem says the project will be completed by the end of 2017, with first gas scheduled for 2018.