Saipem has operated in the Stabroek Block for ExxonMobil Guyana Limited under seven offshore development contracts

Milan (Italy), – Saipem has been awarded a new Limited Notice to Proceed (LNTP), worth around 150 million USD, by ExxonMobil Guyana Limited for the engineering, procurement, construction and installation (EPCI) of the subsea structures, umbilicals, risers, and flowlines (SURF) system for the Longtail project, located in the Stabroek Block offshore Guyana, at a water depth of approximately 1,750 metres.

 Limited Notice to Proceed (LNTP),

The LNTP allows Saipem to commence preliminary detailed engineering and procurement activities. Execution of the main EPCI scope (including construction and installation activities) is subject to the receipt of the necessary governmental and regulatory approvals, as well as the Final Investment Decision (FID) by ExxonMobil Guyana Limited and its co‑venturers in the Stabroek Block. Once approved, the full contract will have an expected duration of around four years and an estimated overall value of between $750 million and $1.5 billion USD.

Seven offshore development contracts

Saipem has operated in the Stabroek Block for ExxonMobil Guyana Limited under seven offshore development contracts, four of which have already been completed, namely Liza Phase 1, Liza Phase 2, Payara, and Yellowtail.

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  About : Saipem 

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset-Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, and Sustainable Infrastructures. The company has 5 fabrication yards and an offshore fleet of 17 construction vessels owned and 12 drilling rigs, of which 9 are owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such, Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies, and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 130 nationalities.

About ExxonMobil in Guyana

ExxonMobil is firmly established in Guyana, operating an office in Georgetown, with numerous ongoing exploration and development operations offshore. ExxonMobil Guyana is the first and largest oil producer in Guyana, and is the operator of the Stabroek and Canje Blocks offshore. Over 30 significant discoveries have been made since May 2015, with production beginning in December 2019 from the Liza Phase 1 development.

#ExxonMobil Guyana #Saipem #The LNTP # (EPCI) # Canje Blocks offshore# new offshore contract # Liza Phase