Saipem awarded $1.2bn contracts for Guyana and Egypt project

Saipem, the Italian multinational oilfield services company, has said that it has been awarded new contracts in Guyana and Egypt for a total amount of approximately US$1.2 billion.

In a statement, the company said the first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in 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, who was previously awarded other four subsea contracts by ExxonMobil Guyanafor prior developments in the same area, namely Liza Phase 1 and 2, Payara, and Yellowtail, will perform the operations by using its own vessels, including FDS2 and Constellation, the company said.

Beginning Limited Activities

Subject to the necessary government approvals, project sanction by ExxonMobil Guyana and its Stabroek block coventurers and an authorisation to proceed with the final phase, the award will allow Saipem to start some limited activities, namely detailed engineering and procurement, the statement continued.

The second contract has been awarded by Petrobel for the transportation, installation, and pre-commissioning of 170 kilometres of umbilicals for the Zohr Field, the giant offshore natural gas field in the Egyptian sector of the Mediterranean. The umbilicals will 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, the statement concluded.