A consortium led by bp, operating the Shah Deniz project, has awarded three significant offshore contracts. These agreements, valued at approximately $700 million, involve the Saipem and BOS Shelf joint venture. The contracts specifically target the Shah Deniz Compression (SDC) project, an offshore gas development situated in the Caspian Sea.
Contract Details
The Shah Deniz consortium, with bp at its helm, finalized these substantial agreements. Three major offshore contracts comprise the $700 million award. This financial commitment underscores the scale of the ongoing development in the Caspian Sea.
Awarded Joint Venture
Saipem and BOS Shelf, operating as a joint venture, secured these contracts. The consortium selected this partnership for their expertise in offshore operations. This collaboration will be crucial for the project’s execution.
The Shah Deniz Compression Project
The awarded contracts directly support the Shah Deniz Compression (SDC) project. This initiative represents a vital offshore gas development. Its primary goal involves enhancing gas recovery and ensuring continued production from the field.
Caspian Sea Operations
The entire Shah Deniz project, including the SDC phase, operates within the Caspian Sea. This strategic location places it at the heart of a significant energy region. The development continues to play a key role in regional energy supply.
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