BP Exploration (Caspian Sea) Ltd. has signed a framework agreement for the SCV Khankendi vessel for work in the Azerbaijani waters of the Caspian Sea.
The agreement was signed between the operator and a consortium comprised of Saipem Contracting Netherlands BV, BOS Shelf LLC, and BOS Shelf International FZCO.
Saipem is operator of the vessel, which is specifically designed for subsea construction. Saipem will provide a crew to perform marine activities for Shah Deniz and Azeri-Chirag-Gunashli fields 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 was signed for a 3-year term with an option for a 2-year extension. The value of the services is estimated at $300 million.
