Saipem, the Italian multinational oilfield services prime ExxonMobil contractor has announced that it received authorization from the oil giant and its co-venturers in the Stabroek block to proceed with the final phase of the Uuaru oil field development project.
Saipem was awarded a large contract in 2022 by ExxonMobil Guyana for the development of the Uaru oil field, pending regulatory approvals. Now with approval, 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. It is also worth mentioning that the company had already initiated some limited activities, namely detailed engineering and procurement, in accordance with the terms of the original award communicated on December 15, 2022.
In a statement, the company noted that the latest authorization from ExxonMobil further consolidates its presence in the country, as it has previously been awarded four other subsea contracts for developments in the same area, namely Liza Phase 1 and 2, Payara, and Yellowtail.
The Uaru oil field is located in the Stabroek block offshore Guyana, with a water depth of approximately 2,000 meters.
The Uarau project, which is Exxon’s fifth development in the Stabroek Block is significant for Guyana as it is expected to further contribute to the country’s economic growth and development. The development is also expected to create many job opportunities for Guyanese, while also strengthening the country’s position as a major player in the oil and gas industry.
The company also expressed that the authorization a significant milestone, and apart from furthering its consolidation in the country, it also reinforces Saipem’s position as a leading oil and gas contractor in the region.
