Saipem confirms Black Sea pipeline contract cancellation

Saipem confirms Turkish Stream cancellationItaly’s Saipem confirmed it has received notification of the termination for convenience of the South Stream BV contract. Namely, the company received the termination late in the evening of July 8, 2015. 

Earlier today reports emerged that Russian gas giant Gazprom has cancelled the Turkish Stream pipeline construction contract it had with Italian oilfield services contractor Saipem.

Saipem now confirmed these reports, but Offshore Energy Today is yet to hear from South Stream Transport.

According to Saipem’s press statement, the termination for convenience is a standard contractual clause which provides for the termination of the agreement in the absence of a contractual breach, with compensation determined in accordance with the terms and conditions of the contract.

Saipem also confirmed that the pipelaying vessel Castoro 6 was in the process of mooring in Russian waters to start pipelaying activities.

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply