Baku Shipyard secures first major contract

Singapore: The new Baku Shipyard, in which Keppel Offshore & Marine has a stake, has secured a contract worth $378m from BP Exploration (Shah Deniz), the operator of the Shah Deniz gas field development, to design and build a subsea construction vessel (SCV).

The shipbuilding yard, which opened last September, was jointly developed by Azerbaijan’s energy conglomerate SOCAR, Azerbaijan Investment Company (AIC) and Keppel O&M. SOCAR, AIC and Keppel O&M own 65%, 25% and 10% share in the yard respectively.  [24/04/14]


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