Saipem secures limited notice to proceed contract for ExxonMobil Guyana's Longtail development offshore Guyana

Saipem secured a limited notice to proceed contract valued at approximately $150 million from ExxonMobil Guyana for preliminary engineering and procurement activities related to the Longtail development in the Stabroek Block. The contract covers subsea structures, umbilicals, risers, and flowlines in waters approximately 1,750 meters deep, with Saipem authorized to begin detailed engineering and procurement ahead of final investment decision (FID) and regulatory approvals. Once approved, the full engineering, procurement, construction, and installation contract is expected to range between $750 million and $1.5 billion over a four-year period. This award follows Saipem's prior work on multiple Stabroek Block projects, including Liza Phase 1, Liza Phase 2, Payara, and Yellowtail, all of which have since been completed. The Longtail development represents ExxonMobil Guyana's continued expansion in the prolific Stabroek Block, which has become a cornerstone of Guyana's offshore oil production growth.

Counterparts (2)

supplier

Saipem

company · 4 deals

Milan-based EPCI contractor specializing in complex energy and infrastructure projects with 30,000+ employees across 50+ countries. Core expertise in oil & gas infrastructure, offshore wind, CCUS, and green hydrogen, with strong focus on energy transition solutions.

Buyer

E

ExxonMobil Guyana

company · 1 deals