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Saipem Wins $1.8 Billion Contract for Azerbaijan's Shah Deniz II

By Liam Moloney ROME--Italian oil services company Saipem SpA (SPM.MI) said Wednesday it has been awarded a contract worth about $1.8 billion for engineering and construction work on a large natural gas field off Azerbaijan. BP PLC (BP) awarded the contract on behalf of the Shah Deniz consortium for the second stage of the large natural gas field, located 90 kilometers off Azerbaijan, that will supply Turkey and the European Union, Saipem said in a statement. Saipem is part of a consortium with Bos Shelf and Start Gulf, it said. The contract, which includes laying more than 360 kilometers of pipelines, is scheduled to be completed by the end of 2017. This deal follows Tuesday's announcement that Saipem has won a 400 million euros ($552 million) contract for construction works to the second line of the OAO Gazprom (GAZP.RS)-led South Stream offshore pipeline that aims to bring Russian gas via the Black Sea to the EU, bypassing Ukraine. The works related to the construction of the South Stream second line is scheduled to be completed by the end of 2016. Write to Liam Moloney at liam.moloney@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Bp (BP)
DateTimeHeadline
08/25/201603:03:00Oil Firms Binge on Debt -- WSJ
08/24/201617:12:00Largest Oil Companies' Debts Hit Record High -- Update
08/24/201605:59:00Largest Oil Companies' Debts Hit Record High
08/02/201615:00:00Executives at Riverstone on Hook to Return More Than $300 Million...
07/30/201603:02:00Oil Price Retreat Slams Producers -- WSJ
07/29/201615:21:00Low Crude Prices Hammer Big Oil Companies -- Update
07/29/201612:30:00Low Crude Prices Hammer Big Oil Companies
07/29/201612:11:00Low Crude Prices Hammer Big Oil Companies
07/29/201605:30:00Italy's Eni Posts Loss on Weak Oil Price
07/29/201603:03:00Crude Slump Weighs On Oil Firms' Earnings -- WSJ
07/28/201610:52:00Oil Price Rout Casts Shadow Over Earnings in Energy sector
07/27/201605:50:00Statoil Cuts Spending After Posting a Net Loss
07/26/201618:05:00ADRs End Higher; Telecom Italia, Tim Participacoes Rise
07/26/201608:48:00BP Suffers Third Straight Quarterly Loss -- 2nd Update
07/26/201604:11:00BP Suffers Third Straight Quarterly Loss -- Update
07/26/201603:30:00BP Posts Loss of $2.25 Billion
07/26/201603:11:00BP Posts Replacement Cost of $2.25 Billion for Second Quarter
07/25/201603:03:00BP Must Show It's at Last Set to Grow in Wake of Spill -- WSJ
07/24/201623:10:00BP Tries to Regain Its Footing With the 2010 Spill Behind It
07/19/201605:18:00North Sea Oil Firms Buoyed by Brexit

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