UK-based consulting and engineering firm Wood has received a contract to provide integrated project management for the $3.2bn Sakarya field development project offshore Turkey.

The contract for the field has been awarded by state-owned oil and gas company Turkish Petroleum (TP), and will see Wood manage Turkey’s largest natural gas reserve.

Under the agreement, the company will be responsible for undertaking the integrated project management and engineering verification for the project’s first engineering, procurement, construction and installation (EPCI) phase.

This phase will see the development of the gas transport pipeline and umbilical, subsea production system, and onshore processing facility in Filyos.

Located 150km off the coast of Turkey in the Black Sea, the Sakarya gas field has a confirmed capacity of 405 billion cubic metres.

Upon completion of the first phase in 2023, the field will deliver ten million cubic metres (MCUM) of gas per day to the Turkish grid.

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Wood’s energy innovation and optimisation president Andy Hemingway said: “The Sakarya Gas Field will make a significant contribution to the development and growth of the Turkish energy industry and the wider economy.

“With decades of experience, Wood is uniquely positioned to deliver on this new contract, and we are delighted to be continuing our longstanding working relationship with TP on this milestone project.”

Wood said that the new discovery could ‘ease Turkey’s dependence for gas imports from Azerbaijan, Iran, and Russia’.

In a separate development, Russian gas firm Gazprom have approved a $24bn investment (RUR1.76tn) for 2022.

This will be spent on top-priority projects, renovating gas transmission systems, and projects that will help to secure gas balance during peak periods.

Of this investment, the firm plans to spend $1.03bn (RUR77.02bn) on the acquisition of non-current assets, $19.09bn (RUR1,427.22bn) on capital investments, and $3.39bn (RUR253.43bn) on long-term financial investments.