Saipem has been awarded a new EPCI contract for the SURF package of the proposed Liza project operated by Esso Exploration and Production Guyana Limited, an affiliate of ExxonMobil.
The Liza field, located approximately 120 miles offshore Guyana at a water depth of 1,800 metres, is a subsea development with a recoverable resource estimate of over 1 billion oil-equivalent barrels.
Saipem will perform engineering, procurement, construction, and installation of the risers, flow lines, and associated structures and jumpers. The award also includes transportation and installation of umbilicals, manifolds, and associated foundations for the production, and water and gas injection systems. Saipem will deploy its flagship vessels FDS2 and the Normand Maximus to execute the works which will start in 2019.
Stefano Cao, Saipem CEO, said: “We are delighted to have secured this award from an important client such as ExxonMobil. A further reason for our satisfaction is the opportunity to be among the first operators in the oil&gas industry to work in an emerging country like Guyana. This is an important milestone for Saipem and an exciting challenge in a frontier area.”
In addition, Saipem said it has also acquired new contracts and change orders of contracts currently underway in the North Sea and West Africa.
The new acquisitions are said to be worth a total of $500 million.