Saipem authorized by ExxonMobil to proceed with oilfield project offshore Guyana

World Oil Staff May 04, 2023

(WO)– Saipem has received authorization to proceed with the final phase of the Uaru oilfield development project in Guyana from ExxonMobil Guyana and its Stabroek block coventurers.

In 2022, Saipem was awarded a large contract by ExxonMobil Guyana for the UARU oilfield development project, located in the Stabroek block offshore Guyana at a water depth of around 2,000 meters. The contract award is valued between $500 million and $1 billion.

The final phase of the awarded scope of work includes the design, fabrication and installation of subsea structures, risers, flowlines, and umbilicals for a large subsea production facility. Saipem will perform the operations using its flagship vessels FDS2 and Saipem Constellation

In accordance with the terms of the original award communicated in December 2022, Saipem had initiated some limited activities, namely detailed engineering, and procurement.

Saipem was previously awarded four other subsea contracts by ExxonMobil Guyana for developments in the same area, namely Liza Phase 1 and 2, Payara, and Yellowtail, thereby further consolidating its presence in the country.

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