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The Caspian Pipeline Consortium has chosen the U.S.-Italian Willbros/ Saipem joint venture as contractors to build the first phase of a new oil pipeline to the Russian Black Sea coast, Interfax said.
Construction of the pipeline, part of a project aimed at increasing exports of Russian and Kazakh crude oil, is due to start in January 1996. The line should become operational by the beginning of the following year.
The cost of phase one, which will allow more than 15 million tons of additional crude exports from the region, is estimated at between $350 million and $400 million.
Caspian Consortium Picks a Partner
11 August 1995
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