The Shah Deniz field is located 90km offshore Azerbaijan, in water depths from 75m to 550m and is operated by BP with a 28.8% interest.
Other partners comprise TPAO (19%), Socar (16.7%), Petronas (15.5%), Lukoil (10%) and NIOC (10%).
Under the contract, the partners are responsible for management and operation of the new-build subsea construction vessel (SCV) Khankendi for transport and installation of subsea production systems and structures at all five flanks of Shah Deniz project.
BP vice-president for the Shah Deniz stage 2 marine and subsea programme Frank Wilson said: "We are pleased to continue cooperation with our strategic offshore installation contractor and its major local consortium partners to progress the execute phase of the giant Shah Deniz stage 2 project.
"The new flagship vessel Khankendi, which is currently under construction by Baku shipyard, will provide essential support for the installation of the stage 2 subsea structures, the biggest subsea production system ever built in the Caspian."
Work on the project is expected to be complete by mid-2022 and also includes reactivation of the pipe-lay barge Israfil Huseinov, as well as the second pipe-lay installation campaign of water flow-lines in 2019.
The contract can be extended for another five years to cover installation of the remaining trees, flying leads, as well as jumpers at the east-south, east-north and west-south subsea flanks between 2022 and 2027.
More than 70% of all first gas work across Azerbaijan and Georgia for the Shah Deniz stage 2 project is already completed in terms of engineering, procurement and construction.
The project’s first gas is expected in 2018.