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Saipem, Alongside ExxonMobil and Equinor, Signed Contracts for Offshore Operations in Guyana and Campos Basin
Saipem, a renowned Italian provider of engineering, procurement, and construction services, has added two significant offshore contracts, totaling approximately US$ 1.9 billion, to its portfolio. The offshore contracts stem from partnerships with ExxonMobil Guyana Limited and Equinor, thereby expanding its presence in Guyana and Brazil, according to Offshore Energy.
Saipem’s first achievement is the contract for the development of the oil field at Whiptail, in the Stabroek block, off 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 utilize its vessels FDS2, Constellation, and Castorone to conduct operations in Guyana. The company will establish its offshore construction unit at 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 contract scope will allow Saipem to initiate limited offshore activities, such as specific engineering and procurement, subject to government approvals and the project sanction by ExxonMobil Guyana Limited and co-venturers in 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. Operations are expected to begin between Q4 2027 and Q2 2028, with a lifespan of at least twenty years.
Saipem’s second contract is with Equinor, for the Raia project, involving the development of a gas and condensate field in the pre-salt layer in the Campos Basin, located about 200 km off the coast of Rio de Janeiro, Brazil.
The scope of work includes offshore transportation and installation of a subsea gas export pipeline at depths of around 2,900 meters, in addition to horizontal drilling activities for the approach to shore. Saipem will use its transport vessel Castorone for the installation.
Significant Contribution to Gas Development in Brazil
Saipem believes that the Raia project in Brazil will allow 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 pipelines installed by Saipem over approximately 200 km, from the field to a gas gathering facility to be built in Cabiúnas, in the city of Macaé, in the State of Rio de Janeiro.
This contract marks Saipem as a key partner in the Brazilian energy landscape, and the company envisions consolidating its role in future developments in the sector.
Positive Outlook for Saipem
These robust contracts are further testimony to Saipem’s competitiveness in bidding and its ability to forge long-term partnerships based on consistent performance.
Saipem continues to expand its operations globally, recently securing a multibillion-dollar award with ADNOC, from the United Arab Emirates, and selling an FPSO vessel operating in the Espírito Santo Basin, in Brazil. The company maintains an optimistic view for the future, bolstered by the growing demand for its services in strategic projects around the world.
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