BP Exploration (Caspian Sea) has signed a three-year framework agreement with a consortium comprising Saipem Contracting Netherlands, BOS Shelf LLC and BOS Shelf International FZCO.
This covers execution of offshore activities in the Azerbaijani sector of the Caspian Sea using the Khankendi subsea construction vessel, owned by the Shah Deniz Field co-venturers and designed specifically for subsea construction.
The potential value of the arrangement could reach $300 million, with Saipem’s share amounting to $250 million. The duration could be extended by a further two years
Saipem will operate the Khankendi and will provide the crew for planned activities at the Shah Deniz and Azeri-Chirag-Gunashli fields.
The consortium’s responsibilities include engineering, procurement, construction and installation of subsea infrastructures and providing life-of-field services.
Saipem has been operating in the area since the late 1990s, and it was assigned operational management of the Khankendi in 2016 for a program on Shah Deniz, also commissioned by bp.
