Saipem Secures Preliminary Contract For Longtail Offshore Project In Guyana

Saipem has further solidified its market-leading position in the Stabroek Block by securing a Limited Notice to Proceed (LNTP) from ExxonMobil Guyana Limited for the Longtail subsea development. This initial agreement, valued at approximately $150 million, covers the critical engineering, procurement, construction, and installation (EPCI) of the project's subsea structures, umbilicals, risers, and flowlines (SURF). By leveraging its extensive regional expertise and specialized deepwater capabilities, Saipem distinguishes itself from competitors through a proven track record of executing complex infrastructure at extreme water depths of 1,750 meters.

Strategic Execution and Project Scope
The LNTP serves as a strategic bridge, allowing Saipem to immediately initiate detailed engineering and procurement phases while the project awaits the Final Investment Decision (FID) and necessary regulatory clearances. Upon full approval, the contract is projected to span four years with a total estimated value ranging between $750 million and $1.5 billion. This comprehensive SURF scope involves the integration of sophisticated subsea hardware designed to manage high-pressure fluid transport from the seabed to surface facilities.

A Legacy of Deepwater Expertise in the Stabroek Block
The award of the Longtail project underscores Saipem’s dominant operational footprint in Guyana, marking its eighth offshore development contract with ExxonMobil Guyana Limited in this specific basin. The company’s ability to consistently secure high-value EPCI contracts is rooted in the successful delivery of major previous phases, including Liza Phase 1 and 2, Payara, and Yellowtail. This continuity of service provides a significant technical and logistical advantage, as Saipem utilizes its established local infrastructure and specialized fleet to navigate the unique environmental challenges of the Guyanese offshore sector.

Edited by Evgeny Churilov, Induportals Media - Adapted by AI.

www.saipem.com