Saipem wins the Kashagan pipeline contract offshore Kazakhstan amounting to $520 million

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10:24 04.11.2004
text: "Kazakhstan Today"
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An Italian company Saipem has been awarded the contract for the construction and installation of the offshore pipeline system as part of the development of the programme of the Kashagan field located in the Kazakh sector of the Caspian Sea, approximately 80 km south-east of the town of Atyrau, Saipem press service reports.

The contract, awarded by the companies of the North Caspian Sea Production Sharing Agreement, following an international tender, has a total value of 520 million USD. Saipem will install the pipeline system between 2006 and 2007 with a new lay barge and new trenching equipment. The Company is operating as division within the ENI group, which is a part of Agip KCO consortium.

Earlier it was reported that the consortium Agip KCO (project operator to develop Kashagan project) unites BG Group, Exxon Mobil, Inpex Masela Ltd., Phillips, Shell and Total. The first oil on Kashagan field was discovered on a well "Vostok-1" in summer 2000. The proven field reserves equal 1.5 billion tons.

Translated by Nataliya Shirinskikh