Italian multinational oilfield services company Saipem has received authorization from ExxonMobil Guyana Limited and its Stabroek Block coventurers to proceed with the execution of the giant Whiptail oilfield development project.
Saipem said at the weekend that the authorization has been granted subsequent to the final project sanction by Exxon, Hess and CNOOC, and the necessary regulatory clearances.
Saipem’s scope of work entails the detailed Engineering, Procurement, Construction, and Installation (EPCI) of a subsea production facility. The Whiptail project is situated at a water depth of approximately 2,000 meters off the Guyana coast.
The contract value is between 750 million and 1.5 billion USD.
Saipem had already started work on the detailed engineering and procurement of the long lead items and will now proceed with the execution of the remaining project activities.
Saipem field development ship conducting installation for Exxon’s next big oil project
Saipem’s vessels FDS2, Castorone and Constellation will be used for the offshore installation.
Furthermore, for the on-site construction of part of the submarine items, Saipem will deploy its Guyana Offshore Construction Facility, located at the Port of Georgetown, and an additional local fabrication facility. The company said this is proof of its continued commitment to sustainable growth in the country.
OilNOW previously reported that Saipem is set to occupy 81,000 square meters (m2) of the Vreed-en-Hoop Shore Base Inc. facility which would allowing it to fabricate “more complex” subsea structures.
Saipem had been previously awarded five additional contracts by ExxonMobil Guyana for projects at the Stabroek Block: Liza Phase 1 and Phase 2, Payara, Yellowtail and UARU.
