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6/28/2015 12:00:00 AM

BP has awarded two new contracts for its Shah Deniz stage 2 project, which is located in the Caspian Sea.

The biggest contract has been awarded to FMC Kongsberg Subsea, which secured a $297mn deal for the supply of subsea production systems.

“This award continues our multi-year support for BP on this project,” said Tore Halvorsen, FMC Technologies' senior vice president, Subsea Technologies.“Our close cooperation on this project has accelerated the transition to the manufacturing stage and enabled us to reduce the lead time delivering the project.”

In addition, OneSubsea won a $66mn contract for the second of three planned batches of subsea production trees and ancillaries required for the project.

The delivery of equipment will take place in stages from 2016-2021.