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Shah Deniz consortium awards $1.5 bln subsea production contract

Reuters - UK Focus

LONDON, May 3 (Reuters) - The consortium developing the second phase of Azerbaijan's huge Shah Deniz gas field has awarded a $1.5 billion subsea production contract to a consortium involving Saipem (LSE: 0NWY.L - news) , BOS Shelf and Star Gulf FZCO, it said on Tuesday.

The group has won a contract to operate a Subsea Construction Vessel (SCV) to transport and install a deepwater subsea production system, said the Shah Deniz consortium, led by British oil major BP.

The consortium said the Shah Deniz 2 project was on track to deliver its first gas in 2018. (Reporting by Karolin Schaps, editing by Louise Heavens)