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New deal signed within Shah Deniz Stage 2 project

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contractSaipem Contracting Netherlands B.V. signed a 4-year contract with the Azerbaijani branch of the Lighthouse company in order to conduct survey work as part of the Shah Deniz Stage 2 project, Lighthouse said in a message posted on its website.

“The two companies have signed a new revision of the existing frame agreement, which concerns Survey and Positioning Support Activities, extending its term until 2022,” said the message.

In May 2016, the Shah Deniz consortium announced the award of a $1.5 billion contract for the transport and installation of the deeper water subsea production systems for Shah Deniz Stage 2 to the BOS Shelf LLC, Saipem Contracting Netherlands B.V. and Star Gulf FZCO consortium.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996.

The field’s reserve is estimated at 1.2 trillion cubic meters of gas.

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