Saipem Inks $1.9B in Contracts

November 29, 2023

Saipem won two offshore contracts, one in Guyana and the other in Brazil, worth approximately $1.9 billion.

The first contract has been awarded by ExxonMobil’s subsidiary ExxonMobil Guyana Limited for the proposed Whiptail oilfield development located in the Stabroek block offshore Guyana, at a water depth of approximately 2,000 meters. Saipem’s scope of work includes the design, fabrication and installation of subsea structures, risers, flowlines, and umbilicals for a large subsea production facility.
Saipem will perform operations using its state-of-the art vessels FDS2, Constellation, and Castorone, and will deploy as key fabrication site for its execution model Saipem’s Guyana Offshore Construction Facility located at the Port of Georgetown, enhancing a sustainable steady growth in the country. Subject to the necessary government approvals, the project sanction by ExxonMobil Guyana Limited and its Stabroek block coventurers and an authorization to proceed with the final phase, the award will allow Saipem to begin some limited activities, namely detailed engineering, and procurement.

The second contract has been awarded by Equinor for the Raia project, the development of a pre-salt gas and condensate field in the Campos Basin, located about 200 km offshore the state of Rio de Janeiro in Brazil.

Saipem’s scope of work encompasses the offshore transport and installation of a subsea gas export line and associated equipment in water depths of around 2,900 meters, as well as the horizontal drilling activities for the shore approach. Saipem will deploy its state-of-the-art pipelaying vessel Castorone for the installation works.

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