Italian engineering firm Saipem has been granted a Limited Notice to Proceed (LNTP) from ExxonMobil Guyana Limited for subsea structures, umbilicals, risers, and flowlines (SURF) work at the proposed Hammerhead oil field development in the Stabroek Block.
The project site is located at a depth of approximately 1,000 meters.
Saipem, TechnipFMC hired for subsea work on Block 58 development | OilNOW
The company announced on April 2, that the LNTP allows it to begin early engineering and procurement activities before a potential project start in 2029, pending necessary government and regulatory approvals. The execution of construction and installation will depend on approvals from the Guyanese government, regulators, and ExxonMobil’s Stabroek Block co-venturers.
Saipem said it would deploy multiple construction and support vessels for operations, including the Saipem FDS2. All logistics will be managed locally through the Vreed-en-Hoop Shorebase Inc. (VEHSI) yard.
The project is expected to last four years and will create employment and Local Content opportunities for Guyanese workers.
In addition to the Guyana contract, Saipem has been awarded an offshore project in the Middle East, bringing the total value of its new contracts to approximately US$720 million.
Saipem vessel completes 180 consecutive ‘Perfect Days’ on Yellowtail project in Guyana | OilNOW
The company will execute engineering, procurement, construction, and installation (EPCI) activities to repair damaged subsea pipelines for a major client. The project will last three years and underscores the growing importance of offshore field maintenance within Saipem’s portfolio.
This complements the company’s engineering, procurement, construction, installation & commissioning (EPCIC), and engineering, preparation works, and removal and disposal (EPRD) business segments.
