Italian contractor Saipem has been awarded a $1billion contract in the Caspian Region by Daewoo Shipbuilding and Marine Engineering.
The engineering and construction contract has been awarded through Saipem company ERSAI Caspian Contractor LLC.
The contract includes yard engineering, fabrication and pre-commissioning activities as well as the load-out of 55,000 tons of pipe racks.
Umberto Vergine, Saipem chief executive, said: “This contract underlines our excellent track record in a key market for Saipem and I look forward to the continued development of our presence in the Caspian Region, working with our local partners to deliver a high quality service to some of our most important clients.”
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