BP: Shah Deniz Subsea Pipelay Successfully Completed

BAKU, Apr 07, 2006 (Dow Jones Commodities News via Comtex)

BP PLC (BP) said Friday it completed the first stage of pipelaying on the bottom of the Caspian Sea, where it operates Shah Deniz gas and condensate development project.

Pipelaying started last September and consisted of installation of three 90 kilometers pipelines.

The pipelay program used the Israfil Huseynov barge and employed McDermott Caspian Contractors, Inc., a unit of McDermott International, Inc.

BP said that the first stage of the project is progressing according to schedule to meet the target of delivering first gas to the market before winter 2006.

Partners in the Shah Deniz production sharing agreement are: BP, Statoil, the State Oil Company of Azerbaijan Republic (SOCAR), Lukoil Holdings, NICO, Total and TPAO.

Copyright (c) 2006 Dow Jones & Company, Inc.

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