Saipem signs two new offshore contracts worth 1.2 billion dollars

December 15, 2022

Abstract : The offshore campaign will begin in the second quarter of 2023. The two contracts concern Egypt and especially Guyana, where Saipem has already been awarded four other contracts by ExxonMobil

MILAN, Dec 15 (Class Editori) — The latest two contracts Saipem (-0.1% to 1.029 euros at the opening) has won in Guyana and Egypt are worth a total of 1.2 billion dollars. For the company led by Alessandro Puliti, the one in Guyana is now the fifth order.

ExxonMobil is the one to award the first contract

The first contract has been awarded by ExxonMobil Guyana and will now be subjected to Government approvals. The development project will concern the Uaru oil field located in the Stabroek Block, offshore Guyana, at a depth of about 2,000 meters. The subject of the contract includes the design, fabrication and installation of subsea structures, risers, flowlines and umbilicals for a large subsea production facility.

Saipem, which had already been awarded four other subsea contracts by ExxonMobil Guyana for previous developments in the same area, namely Liza Phase 1 and 2, Payara and Yellowtail, will carry out the operations using its vessels, including FDS 2 and Constellation.

“The contract, subjected to the necessary Government approvals, as well as the approval of the investment by ExxonMobil Guyana and its partners in the Stabroek Block and the authorization to proceed with the final phase, allows Saipem to start some limited activities, namely detailed engineering and procurement,” the company explained.

Saipem to start offshore campaign in the third quarter of 2023

The second contract, on the other hand, was awarded by PETROBEL (Belayim Petroleum Company) and concerns the transportation, installation, and pre-commissioning of 170 kilometers of umbilicals for the Zohr gas field, to be transported and installed between the central control platform (70 meters deep) and the subsea field (1,500 meters deep), connecting to the existing production systems. The offshore campaign is scheduled to begin in the third quarter of 2023.

(Source:Class Editori)

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