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Saipem, together with ExxonMobil and Equinor, signed contracts that provide for offshore operations in Guyana and the Campos Basin
Saipem, a renowned Italian provider of engineering, contribution and construction services, has added two important offshore contracts, totaling around US$1,9 billion, to your portfolio. The offshore contracts are the result of partnerships with ExxonMobil Guyana Limited and Equinor, thus expanding its presence in Guyana and Brazil, according to the Offshore Energy website.
Saipem's first achievement is the contract for the development of the oil field of Whiptail, in the Stabroek block, on the coast of Guyana. This project, valued at US$1,9 billion, involves the manufacturing and installation of subsea structures, risers, flow lines and umbilicals for a subsea production facility in waters approximately 2.000 meters deep.
Saipem will use its FDS2, Constellation and Castorone vessels to carry out operations in Guyana. The company will establish its offshore construction facility in the Port of Georgetown as a local strategy for executing the project.
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The “core” of offshore contracts is the performance of specific services
The scope of the contract will allow Saipem to commence limited offshore activities such as specific engineering and procurement, subject to government approvals and project sanction by ExxonMobil Guyana Limited and co-venturers of the Stabroek block.
The Whiptail project aims to develop the Whiptail, Pinktail and Tilapia fields, with plans for offshore drilling through drill ships to produce oil from 40 to 65 production and injection wells. It is expected to enter into operation between Q4 2027 and Q2 2028, with a useful life of at least twenty years.
Saipem's second contract is with Equinor, for the Raia project, involving the development of a pre-salt gas and condensate field in the Campos Basin, located approximately 200 km off the coast of Rio de Janeiro, Brazil.
The scope of work covers offshore transportation and the installation of a subsea gas export line in depths of around 2.900 meters, in addition to horizontal drilling activities to approach the coast. Saipem will use its Castorone carrier vessel for the installation.
Significant contribution to gas development in Brazil
Saipem believes that the Raia project in Brazil will enable it to contribute to one of the most important offshore gas development projects in the country, potentially representing 15% of total domestic demand.
The extracted gas will be transported through gas pipelines installed by Saipem for approximately 200 km, from the field to a gas collection facility to be built in Cabiúnas, in the city of Macaé, in the State of Rio de Janeiro.
This contract marks Saipem as a crucial partner in the Brazilian energy scenario, and the company envisions a consolidation of its role in future developments in the sector.
Positive outlook for Saipem
These robust contracts are further testimony to Saipem's competitiveness in tenders and its capacity to build long-term partnerships based on consistent performance.
Saipem continues to expand its operations globally, recently securing a multibillion-dollar award letter with ADNOC of the United Arab Emirates and selling an FPSO vessel operating in the Espírito Santo Basin in Brazil. The company maintains an optimistic vision for the future, reinforced by the growing demand for its services in strategic projects around the world.
