BP Exploration (Caspian Sea) has signed a framework agreement with a consortium comprising Saipem Contracting Netherlands, BOS Shelf and BOS Shelf International FZCO.
The framework agreement entails the execution of offshore activities in the Azerbaijani waters of the Caspian Sea operating Khankendi, an SCV owned by the Shah Deniz consortium and specifically designed for subsea construction.
The overall value of the contract is estimated at approximately $300 million. Saipem will operate the vessel and will provide the crew to perform the marine activities for the Shah Deniz and Azeri-Chirag-Gunashli fields, located off the coast of Azerbaijan. The consortium’s responsibilities include engineering, procurement, construction and installation of subsea infrastructures and life-of-field services.
The agreement has an initial duration of three years with the possibility of extension for two more. In 2016, Saipem was assigned the operational management of the Khankendi for the execution of offshore activities for the Shah Deniz field under a previous framework agreement with BP.