Saipem awarded $1.2 billion new contracts

Saipem has been awarded new contracts in Guyana and Egypt worth $1.2 billion, the company announced today.

The first contract has been awarded by US oil major Exxon Mobil, subject to government approvals for the Stabroek block offshore Guyana at a water depth of around 2,000 meters.

The contract scope includes the design, fabrication and installation of subsea structures, risers, flowlines and umbilicals for a large subsea production facility.

Saipem was also previously awarded other four subsea contracts by Exxon Mobil’s Guyana subsidiary for prior developments in Liza Phase 1 and 2, Payara, and Yellowtail.

Subject to the necessary approvals and authorisation to proceed with the final phase, the award will allow Saipem to start some limited activities including detailed engineering and procurement.

The second contract has been awarded by Petrobel for the transportation, installation and pre-commissioning of 170 km of umbilicals for the Zohr Field, to be transported and installed between the central control platform (70 m water depth) and the subsea field (1,500 m water depth), connecting to the existing subsea production systems. The offshore campaign is planned to start during Q3 2023.

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