ECONOMY
MCDERMOTT TO COMPLETE CONSTRUCTION OF UNDERWATER OIL PIPELINE IN FRAME OF “AZERI” PROJECT
McDermott Caspian Contractors Company will complete construction of the first sub-sea oil pipeline in the frame of the project on elaboration of “Azeri” field, late 2003, Tony Boil, head of AIOC pipelines project, developing the contract area of Azeri-Chirag-Gunashli (ACG), said at press-conference.
The sub-sea pipeline will connect platform for drilling and oil production on central part “Azeri” with the Sangachal terminal on the Caspian shore. Its laying is carried out by modernized pipe-lay barge “ Israfil Huseynov”, which will be used for construction of all sub-sea pipelines in frame of “Azeri” project with total amount $8.6 bln.
Daily capacity of the first oil pipeline is 500 thousand barrels, for construction of which was spent $186 mln. AIOC also plans to invest the same funds in construction of the 28-inch sub-sea gas pipeline with output up to 700 mln cubic meters per year. Overall, 600 km pipelines with 200m of depths will be laid on Caspian seabed in the frame of “Azeri” projects.
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