BP awarded Emerson a $2.9 billion contract for the Shah Deniz Compression project in the Caspian Sea. Emerson will provide integrated control and safety systems for a new offshore gas platform. The project aims to maximize gas recovery from low-pressure reserves.
The facility will feature advanced automation and remote operation capabilities to enhance safety. This agreement builds on Emerson’s previous involvement in the Shah Deniz development.
The project expects to produce 50 billion cubic meters of gas. It also targets the recovery of 25 million barrels of condensate. Operations are scheduled to begin between 2029 and 2030.
BP shares declined 1.8% in London trading. The price drop occurred as the stock began trading ex-dividend.