US$700 million contract for Saipem

By Andy Brown22 August 2018


Saipem is based in Italy

The contractor Saipem has been awarded contracts for the second phase of the ExxonMobil led Liza development offshore Guyana, south America.

These contracts, assigned by Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, are in addition to those awarded to Saipem in 2017 for Liza Phase 1. The overall value of the contracts is approximately US$700 million.

Following engineering and subject to requisite government approvals, Saipem will then perform detailed engineering, procurement, construction, and installation of the risers, flowlines, and associated structures and jumpers.

Saipem will also transport and install umbilicals, manifolds, and associated foundations for the production, and water and gas injection systems.

Development of the Stabroek Block is being pursued by a joint venture which includes Esso Exploration and Production Guyana Limited as operator and 45% interest holder, in conjunction with Hess Guyana Exploration Limited (30% interest) and CNOOC Nexen Petroleum Guyana Limited (25% interest).

Liza field is located approximately 200km off the shores of Guyana in the Stabroek Block at a water depth of up to 1,850m. The second phase of the development has a larger number of wells than its predecessor and will produce an estimated 220,000 barrels of oil per day.

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