Saipem Secures Major Offshore Contracts in Guyana and Brazil Totaling $1.9 Billion

Saipem has recently clinched two significant offshore contracts, collectively valued at around 1.9 billion USD, in Guyana and Brazil. The first of these contracts, awarded by ExxonMobil’s subsidiary ExxonMobil Guyana Limited, is for the development of the Whiptail oilfield in the Stabroek block, located offshore Guyana at a depth of about 2,000 meters. Saipem’s responsibilities include designing, fabricating, and installing various subsea components such as structures, risers, flowlines, and umbilicals for a substantial subsea production facility. For this project, Saipem will utilize its advanced vessels – FDS2, Constellation, and Castorone – and will leverage its Guyana Offshore Construction Facility in the Port of Georgetown as the primary fabrication site. This approach aims to foster sustainable growth in Guyana.

The commencement of the project is contingent upon government approvals, project sanction by ExxonMobil Guyana Limited and its Stabroek block partners, and authorization for the final phase. This will enable Saipem to start preliminary activities, including detailed engineering and procurement. The second contract, awarded by Equinor, involves the Raia project in Brazil. This project focuses on developing a pre-salt gas and condensate field in the Campos Basin, approximately 200 km off the coast of Rio de Janeiro. Saipem’s role encompasses the offshore transportation and installation of a subsea gas export line and related equipment in waters about 2,900 meters deep, along with horizontal drilling for the shore approach. The company plans to deploy its sophisticated pipelaying vessel, Castorone, for these installation works. Through the Raia project, Saipem is set to play a pivotal role in one of Brazil’s most crucial gas development projects, potentially catering to 15% of the country’s total domestic gas demand. The gas extracted will be transported via pipelines installed by Saipem over approximately 200 km to a new gas receiving facility in Cabiúnas, located in the city of Macaé in the State of Rio de Janeiro.