Saipem announced the signing of a framework agreement between BP Exploration (Caspian Sea) Limited and a consortium composed of Saipem Contracting Netherlands B.V., BOS Shelf LLC and BOS Shelf International FZCO which involves the execution of activities offshore in Azerbaijani waters of the Caspian Sea using the naval vessel SCV Khankendi, a state-of-the-art ship owned by of the Shah Deniz consortium specially designed for the construction of the Subsea Construction Vessel (SCV). Saipem has specified that the total value of the services that can be provided on customer's request, pursuant to the framework agreement, which has a initial term of three years with the possibility of extension for two more years, is estimated at around 300 million dollars, of which $250 million in relation to the Saipem.

Saipem will be responsible for the operational management of the vehicle and of the supply of the crew, with which it will carry out the offshore activities for the Shah Deniz and Azeri-Chirag-Gunashli, located off the coast of Azerbaijan. The consortium will be in charge of engineering, Procurement, construction and installation of infrastructure submarine and life of field services.