Dredging Part of Saipem’s New Deal
- Business & Finance
The North Caspian Operating Company (NCOC) has awarded Saipem a $1.8 billion contract for the construction of two 95 kilometer pipelines for the Kashagan field project, located in the Kazakh waters of the Caspian Sea.
ERSAI Caspian Contractor LLC, a subsidiary of Saipem, will perform the contract.
The scope of work includes engineering, welding materials, conversion and preparation of vessels, dredging, installation, burial and the pre-commissioning of the two pipelines. Some parts of the project will be handed over to specialized subcontractors.
Umberto Vergine, Saipem CEO, commented: “This is a very important contract working for some of the most important oil companies in the world in a key region for Saipem. It also represents another relevant contribution to our backlog in this low price market environment.”
The construction project will be completed by the end of 2016.