Saipem, in partnership with SOCAR affiliates, wins $700 million in offshore contracts for BP’s Shah Deniz Compression Project in the Caspian Sea. Saipem’s share is $600 million. The contracts involve installing a new compression platform and subsea infrastructure. Operations will use local vessels, with work starting in 2026 and finishing by 2029.

The award strengthens Saipem’s presence in the Caspian region and its collaboration with BP and SOCAR. Saipem has a history of successful projects in the area. The company’s operational capabilities and commitment to Azerbaijan’s offshore energy development are highlighted through these new contracts.

Saipem, a leading global company in energy and infrastructure engineering, is expanding its role in significant offshore projects to enhance regional energy efficiency and production capacity. The company’s expertise and experience position it as a key player in advancing large-scale offshore initiatives for the energy sector.

Read more at Yahoo Finance: Saipem Wins $700 Million Offshore Contracts for BP’s Shah Deniz Project