Following the press release of 15 December 2022, Saipem informs that it has received from ExxonMobil Guyana and its Stabroek block coventurers the authorization to proceed with the final phase of the UARU oil field development project in Guyana.
In 2022, pending regulatory approvals, Saipem was awarded a large contract (1) by ExxonMobil Guyana for the UARU oil field development project, located in the Stabroek block offshore Guyana at a water depth of around 2,000 meters.
The final phase of the awarded scope of work includes the design, fabrication and installation of subsea structures, risers, flowlines, and umbilicals for a large subsea production facility. Saipem will perform the operations using its flagship vessels FDS2 and Saipem Constellation.
In accordance with the terms of the original award communicated on 15 December 2022, Saipem had initiated some limited activities, namely detailed engineering, and procurement.
Saipem, was previously awarded four other subsea contracts by ExxonMobil Guyana for developments in the same area, namely Liza Phase 1 and 2, Payara, and Yellowtail, thereby further consolidating its presence in the country.
(1) For Saipem, with reference to this specific contract, a "large" contract is intended as a value in a range between 500 million and approximately 1 billion USD
