Worley lands enormous pipeline contract

WORLEYPARSONS has won a $US11.7 billion ($A12.5 billion) engineering, procurement and construction management contract for developing the vast Trans Anatolian natural gas pipeline (TANAP) that will link Caspian Sea production to Greece.
Worley lands enormous pipeline contract Worley lands enormous pipeline contract Worley lands enormous pipeline contract Worley lands enormous pipeline contract Worley lands enormous pipeline contract

The pipeline is expected to be 1841km long to transport Caspian gas from the Georgian-Turkish border to Turkey's western border with Greece, with first production coming from the BP-operated Shah Deniz stage 2 project in Azerbaijan.

"This contract is critical to the success of this major link in the southern gas corridor, which is regionally significant to meet future gas demand in both Turkey and the European Union," TANAP general manager H Saltuk Duzyol said.

"WorleyParsons is well qualified to perform the required services and has demonstrated their commitment to working collaboratively with all project stakeholders to achieve the project objectives."

Worley CEO Andrew Wood was delighted with winning the strategically important project.

The Shah Deniz 2 and affiliated Caucasus pipeline expansion projects aim to expand production from 10 billion cubic metres of gas per annum to 16Bcm from 2019 with 10Bcm designated for European markets and 6Bcm for Turkey.

Statoil recently farmed down 10% of its 25.5% stake in the Shah Deniz production sharing agreement and South Caucasus Pipeline Company in Azerbaijan to BP and State Oil Company of Azerbaijan Republic for $1.45 billion.

The participants in Shah Deniz after the farm down are BP (28.8%), SOCAR (16.7%), Statoil (15.5%), Lukoil (10%), NICO (10%), Total (10%) and Turkish Petroleum Corporation (9%).

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