Saipem/Azfen Joint Venture Wins $735 Million Contract for Shah Deniz Gas Pipeline Project

ISTANBUL--June 2, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--A joint venture between Saipem Contracting Netherlands BV (Amsterdam) and Azfen JV (Baku, Azerbaijan) has won a contract to build a natural gas pipeline to expand the South Caucasus Pipeline in Azerbaijan and Georgia. BP plc (NYSE:BP) (London, England) awarded the US$735 million contract for the 428-kilometer (km) pipeline loop. The contract agreement between BP and Saipem/Azfen was signed on Monday in Baku.