Saipem bags Guyana contract

Multinational

MILAN, May 10, 2017 – Saipem has signed an engineering, procurement, construction and installation contract with ExxonMobil for work associated with the offshore Liza venture, the Italian entity said on Wednesday.

The scope of the contract includes EPCI work on risers, flow lines, structures and jumpers. Saipem will also be installing umbilicals and manifolds, as well as prepare for installation of the production and injection systems.

The company will put two vessels on the job, the FDS2 and the Normand Maximus, which is scheduled to begin in 2019.

Saipem CEO Stefano Cao said the planned work presented an “exiting challenge in a frontier area” and an “opportunity to be among the first operators in the oil and gas industry to work in an emerging country like Guyana.”

While the company did not disclose the exact contract value, it said the award was part of a newly won contract volume of USD 500 million.

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