Italian energy services contractor Saipem is set to start work on a large contract for ExxonMobil’s Uaru oilfield development, located in the Stabroek block offshore Guyana.
The Milan-headquartered firm said it had received authorisation to proceed with the final phase of the project after being awarded a deal worth between $500m and $1bn last December.
The green light for Saipem follows a $12.7bn investment decision ExxonMobil and its block partners took on their fifth and most expensive offshore oil project in Guyana at the end of April.
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 vessels FDS2 and Saipem Constellation will be utilised for the project.
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.
