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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
04/27/201518:31:22ADR Shares End Mixed; Teva Declines
04/27/201512:38:18LONDON MARKETS: FTSE 100 Notches Record High As HSBC Climbs
04/27/201510:30:43LONDON MARKETS: FTSE 100 Marches To Record High As HSBC Climbs
04/27/201510:00:09BP To Sell Off Major North Sea Asset as Part of Survival Strategy
04/27/201509:16:13BP plc's Hold Rating Reiterated at Investec (BP)
04/27/201505:41:07ASIA MARKETS: Chinese Stocks Rally On State-firm Merger Report
04/27/201504:34:20LONDON MARKETS: FTSE 100 Moves Lower, But HSBC Outperforms
04/26/201523:10:07U.K. Tells BP it Would Oppose Foreign Takeover
04/26/201519:29:10U.K. Tells BP it Would Oppose Foreign Takeover of the Company
04/26/201518:53:06Shell Faces Fresh Challenge in Integrating BG Purchase
04/24/201516:00:02Former BP Chief Sees Oil Price Rebound Soon
04/23/201513:02:57BP Plc 1Q 2015 -- Forecast
04/23/201512:52:33BP to Sell Interest in UK North Sea Business
04/23/201512:48:05BP to Sell 36.22% Interest in UK North Sea CATS Business for...
04/23/201512:00:02How The Majors Are Playing the Oil Price Slump
04/23/201509:27:57BP plc's Buy Rating Reaffirmed at Deutsche Bank (BP)
04/22/201508:00:0210 Most Profitable Companies in Oil
04/21/201516:51:48BP plc Upgraded to Buy at TheStreet (BP)
04/21/201513:20:16Crude Demand Continues to be Strong on Price Slump
04/21/201513:14:25Crude Demand Continues to be Strong on Price Slump -- Update

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