Saipem receives EPCI go-ahead for Guyana’s Hammerhead project

GEORGETOWN, September 26, 2025 – Saipem has received authorisation from ExxonMobil Guyana to proceed with the EPCI contract for the Hammerhead oilfield development in the Stabroek block offshore Guyana, Saipem announced on Friday.

The USD 500-million contract covers EPCI of subsea umbilicals, riser and flowlines for the production facility and gas export system for the development, which is located about 200 kilometres off the Guyanese coast at a depth of around 1,000 metres.

Saipem has been carrying out initial activities related to the contract under the limited notice to proceed received in April 2025 from ExxonMobil. They include detailed engineering and procurement of long-lead items. Following government and regulatory approvals and ExxonMobil’s FID on the project, offshore operations are scheduled to start in 2028.

For the offshore campaign, the company will use the Saipem FDS2 pipelaying and subsea installation vessel and the chartered Shen Da offshore construction and support vessel. All logistics operations will be conducted in Guyana through the Vreed-en-Hoop Shorebase yard.

Hammerhead is ExxonMobil’s seventh development in Guyana. It is located in the prolific Stabroek block, which is operated by ExxonMobil with a 45% stake, alongside block partners Chevron and CNOOC, with 30% and 25% interest, respectively.

Saipem and ExxonMobil have been steady partners in Guyana, with Saipem having already secured contracts for work on six ExxonMobil developments in the country, namely, Liza Phase 1 and Phase 2, Payara, Yellowtail, Uaru and Whiptail.

Photo of Saipem FDS 2courtesy of Saipem

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