Saipem, in a consortium with two SOCAR affiliates (BOS Shelf and BOS Shelf International), was recently awarded three contracts with a combined value of approximately $700 million by the BP-led Shah Deniz consortium. Saipem’s specific share of this contract value is approximately $600 million.
These contracts are for the Shah Deniz Compression (SDC) project, which is part of the next phase of the Shah Deniz field development in the Caspian Sea, offshore Azerbaijan. The scope of work for the project includes:
Transportation and installation of a new 19,000-tonne compression platform.
Engineering, procurement, construction, and installation (EPCI) of about 26 kilometers of new subsea pipelines and associated infrastructure to connect the new platform to existing facilities. Offshore operations are scheduled to begin in the third quarter of 2026, with completion targeted for 2029. The project is designed to access low-pressure gas reserves and maximize the recovery of an estimated 50 billion cubic meters of additional gas from the Shah Deniz field. BP, as the operator of the Shah Deniz consortium, and its partners are funding the overall $2.9 billion SDC project, of which these contracts are a major component.
Note by Alessandro Bazzoni