Saipem, in a consortium with two affiliates of the State Oil Company of the Azerbaijan Republic (SOCAR), has been awarded three new offshore contracts by BP for the Shah Deniz Compression project in Azerbaijan.
The overall value of the contracts is approximately $700 million, with Saipem’s share amounting to $600 million.
Saipem’s scope of work includes the transportation and installation of a new 19,000-tonne compression platform in the Azerbaijan sector of the Caspian Sea.
The contract also covers the engineering, procurement, construction, and installation of approximately 26 kilometres of offshore pipelines to connect the new platform to existing facilities, as well as all major permanent subsea works.
The main vessels to be employed for the offshore operations will be the subsea construction vessel Khankendi and the pipelay barge Israfil Huseynov. Both vessels will be managed and operated by Saipem for the execution of the project.
The offshore activities for the new contracts are expected to commence in the third quarter of 2026, with completion targeted for 2029.