Saipem, Daewoo bag $1 billion contract in the Caspian Region

11/25/2014

Saipem, Daewoo bag $1 billion contract in the Caspian Region

MILAN, Italy -- Saipem, through its controlled company ERSAI Caspian Contractor, has been awarded a major engineering and construction contract in the Caspian Region.

The contract awarded to ERSAI, in consortium with Daewoo Shipbuilding & Marine Engineering, is worth approximately $1 billion.

The contract scope includes yard engineering, fabrication and pre-commissioning activities as well as the load-out of 55,000 tons of pipe racks.

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