Fossil Energy – Guyana
Saipem has been awarded a new Limited Notice to Proceed (LNTP) by ExxonMobil Guyana, worth around 150 million USD.
The contract covers the engineering, procurement, construction and installation (EPCI) of subsea structures, umbilicals, risers and flowlines (SURF) for the Longtail project in the Stabroek Block, offshore Guyana.
The project is located at a water depth of approximately 1,750 metres.
The LNTP allows Saipem to commence preliminary detailed engineering and procurement activities. Execution of the main EPCI scope (including construction and installation activities) is subject to the receipt of the necessary governmental and regulatory approvals, as well as the Final Investment Decision (FID) by ExxonMobil Guyana Limited and its co‑venturers in the Stabroek Block.
Once approved, the full contract will have an expected duration of around four years and an estimated overall value of between $750 million and $1.5 billion USD.
