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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
08/24/201517:37:00ADRs End Lower; Chinese, Commodities Firms Decline
08/24/201514:19:00Mining, Oil Stocks Feel Market Heat
08/17/201513:59:00BP Says Key Unit at Indiana Refinery Remains Shut
08/13/201518:48:19BP Manipulated Texas Natural Gas Market in 2008, Judge Says...
08/13/201518:42:51BP Manipulated Texas Natural Gas Market in 2008, Judge Says...
08/13/201517:20:08BP Manipulated Texas Natural Gas Market, Judge Says
08/13/201517:10:29BP Manipulated Texas Natural Gas Market in 2008, Judge Says
08/13/201517:00:03U.S. Oil Prices Fall to Six-Year Low
08/12/201516:05:13Oil Prices Bounce, Gasoline Soars on Strong Signs for Demand
08/12/201515:45:17BP: Indiana Refinery's Output Reduced by Shutdown of Damaged...
08/11/201518:35:17BP's Crude Unit Remains Shut at Indiana Refinery -- Sources
08/06/201504:50:03European Stocks Pressured by Weak Energy Sector
08/06/201504:45:12European Stocks Pressured by Weak Energy Sector
08/04/201516:56:06Oil Companies' Spending Cuts Unlikely to Be Enough
08/04/201509:30:00Major Integrated Oil and Gas Stocks Technical Data -- BP PLC...
07/30/201504:41:53Cape Wins GBP9.8 Million Contract From BP
07/30/201504:10:11Centrica to Shrink Oil Business, Slash Jobs
07/30/201503:16:18Subsea 7 Gets $500 Million Contract Offshore Egypt
07/29/201506:06:33Correction to BP Swings to Loss in 2Q on Deepwater Deal, Low...
07/28/201518:38:49ADRs End Higher; Baidu, BP Decline

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