Egypt

Saipem secures offshore contracts worth $1.2bn in Guyana and Egypt

Published on : 2022-12-20

Saipem has received new offshore contracts worth approximately $1.2bn in total from ExxonMobil Guyana, and Belayim Petroleum Company (Petrobel) in Guyana and Egypt.

ExxonMobil Guyana, a subsidiary of ExxonMobil, has selected Saipem for the UARU oil field development project, located in the Stabroek block offshore Guyana.

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

Saipem plans to undertake the contract work using its FDS2 and Constellation vessels.

In a press statement, Saipem said: “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.”

Earlier this year, Modec was selected to undertake front end engineering and design (FEED) for a floating production, storage, and offloading (FPSO) vessel to be deployed at the Uaru development project.

Saipem has received the second contract from Petrobel for the transportation, installation, and pre-commissioning of 170km of umbilicals for the Zohr field, located within the Shorouk Block, within the Egyptian Exclusive Economic Zone (EEZ) in the Mediterranean Sea.

The umbilicals will be transported and installed between the central control platform and the subsea field to connect to the existing subsea production systems.

Saipem plans to start an offshore campaign during the third quarter of 2023.

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