Saipem has received an authorisation to proceed with the execution of the activities provided under an EPCI offshore contract for the development project of the Hammerhead oil field in the Stabroek block off Guyana.
The company received an initial limited notice to proceed by ExxonMobil’s Guyana arm, pending necessary government and regulatory approvals, in early April. The initial activities included some detailed engineering and the procurement of long-lead equipment.
Following the receipt of government and regulatory approvals, as well as the final investment decision by Exxon, Saipem has received authorisation to continue the execution of the contractual activities with the offshore campaign currently planned to begin during 2028. The contract value is approximately $500m.
Saipem’s scope of work includes the EPCI of subsea, umbilical, riser, and flowline (SURF) structures for the production facility and the gas export system related to the Hammerhead oilfield development project located about 200 km from shore.
The company will carry out the operations using a variety of construction and support equipment, including the Saipem FDS2 and the Shen Da, which is part of the Saipem fleet as a chartered vessel.
The logistics will be entirely executed and managed in Guyana through the Vreed-en-Hoop Shorebase yard, generating employment and opportunities for the Guyanese people.
Previously, the company was awarded six ExxonMobil contracts for projects in the country.
