Italian offshore energy services provider Saipem has won new offshore contracts worth approximately $720 million, further strengthening its position in key energy markets. These contracts, awarded in the Middle East and Guyana, involve critical engineering, procurement, construction, and installation (EPCI) activities, demonstrating Saipem’s expertise in subsea infrastructure and field development.
The first contract, secured in the Middle East, focuses on subsea pipeline repair for a major client. This three-year project highlights the growing importance of maintaining and optimizing existing offshore fields. The scope of work aligns with Saipem’s capabilities in Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) and Engineering, Preparatory Works, Removal, and Disposal (EPRD).
The second contract, an LNTP (Limited Notice to Proceed) awarded by ExxonMobil Guyana, involves early-stage work on the Hammerhead oil field development in the Stabroek Block. Located at a depth of approximately 1,000 meters, the project includes the installation of subsea structures, umbilicals, risers, and flowlines (SURF) for the production facility and gas export system. While final execution is pending government and regulatory approvals, the LNTP allows Saipem to begin detailed engineering and procurement to ensure a timely startup in 2029. The full scope of work will be carried out using Saipem’s advanced construction fleet, including the Saipem FDS2, with logistics managed entirely from Guyana’s Vreed-en-Hoop Shorebase (VEHSI).
With a four-year project timeline in Guyana and a three-year offshore pipeline repair contract in the Middle East, Saipem continues to expand its footprint in global offshore energy projects, reinforcing its role as a leader in subsea development and field maintenance.
