Saipem wins $1b pipeline construction contract in Caspian Region

Daewoo Shipbuilding and Marine Engineering have awarded Italian contractor Saipem a $1 billion pipeline construction contract in the Caspian Region.

The engineering and construction contract has been awarded through Saipem company ERSAI Caspian Contractor LLC and 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.”