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Saipem lands Exxon Guyana Subsea contract worth up to $1.5bn

Saipem lands Exxon Guyana Subsea contract worth up to $1.5bn


Italian contractor Saipem has won an engineering, procurement, construction and installation (EPCI) contract worth up to $1.5 billion to supply a subsea production facility for ExxonMobil’s Whiptail ultra-deepwater field development offshore Guyana.

The US supermajor last week took the final investment decision on its $12.7 billion Whiptail field development, located on the prolific Stabroek block, which will exploit an estimated resource base of 850 million barrels of crude.

The project will include as many as 10 drill centres with 48 production wells and water injectors. The water depth at Whiptail is approximately 2000 metres.

Saipem has already started initial activities — the detailed engineering and procurement of long lead items — for Whiptail and, following FID, now has the issued authorisation to proceed with the execution of the remaining project activities.

The company’s vessels FDS2, Castorone and Constellation will be used for the offshore installation of the Whiptail subsea production facilities.

Also, for the on-site construction of part of the subsea items, Saipem will deploy its Guyana Offshore Construction Facility, located at the Port of Georgetown, and an additional local fabrication facility, which the company said is proof of its “continued commitment to the sustainable growth in the country”.

Saipem had previously worked on ExxonMobil’s Liza Phase 1 and Phase 2, Payara, Yellowtail and Uaru field developments offshore Guyana.

Read the latest issue of the OGV Energy magazine HERE

Published: 15-04-2024

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