A consortium led by BP PLC (BP) that is operating the massive Azeri-Chirag-Gunashli oil field in the Azeri sector of the Caspian Sea has awarded six contracts totaling $814 million for development of the Chirag project, the consortium said Friday.
A consortium led by BP PLC (BP) that is operating the massive
Azeri-Chirag-Gunashli oil field in the Azeri sector of the Caspian Sea has
awarded six contracts totaling $814 million for development of the Chirag
project, the consortium said Friday.
Winners include BOS Shelf--a joint venture between Saipem SpA (SPM.MI) and
Azerbaijan
state
oil company Socar--with a contract value of $215 million, the ATA consortium
between AMEC PLC (AMEC.LN), Tekfen Holding AS (TKFEN.IS) and Azfen with a
contract value of $340 million, and Kellogg Brown & Root with a contract
value of $150 million.
The Azeri-Chirag-Gunashli BP field, in which BP holds close to 40%, produces
850,000 barrels a day.
Investments into the development of the Chirag project is expected to amount to
$6 billion, said the consortium, which also includes Chevron Corp. (CVX),
Statoil ASA (STO), Inpex Corp. (1605.TO) and Itochu Corp. (8001.TO).
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