Saipem Bags $1.2B Worth Offshore Oil Field Contracts in Guyana and Egypt

Italian energy industry services company Saipem has secured offshore oil and gas field construction contracts in Guyana and Egypt worth about $1.2 billion in total.

In Guyana, the U.S. oil major ExxonMobil has hired Saipem to support its Uaru offshore oil field development project, in the Stabroek block, at a water depth of around 2,000 meters. 

Saipem will be responsible for the design, fabrication, and installation of subsea structures, risers, flowlines, and umbilicals for a large subsea production facility. 

Saipem was also previously awarded four other subsea contracts by ExxonMobil in the Stabroek block, namely Liza Phase 1 and 2, Payara, and Yellowtail. Saipem will use its vessels, including FDS2 and Constellation, for the installation work at Uaru.

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

Egypt

In Egypt, Petrobel has awarded Saipem a contract for the transportation, installation, and pre-commissioning of 170 km of umbilicals for the giant Zohr gas field in the Mediterranean Sea.

Saipem will transport and install the umbilical between the central control platform sitting in a water depth of 70 meters, and the subsea field located at 1,500 meters, connecting to the existing subsea production systems. The offshore campaign is planned to start during Q3 2023.