Saipem has been authorized by ExxonMobil Guyana Limited to proceed with the engineering, procurement, construction, and installation (EPCI) activities for the Hammerhead oil field development, located in the Stabroek block off Guyana at a depth of approximately 1,000 meters. The contract is valued at around $500 million USD.
Earlier, on April 2, 2025, Saipem announced the receipt of a Limited Notice to Proceed (LNTP), which allowed the company to begin initial activities, including detailed engineering and procurement of long-lead equipment. Following receipt of all necessary government and regulatory approvals and the client’s final investment decision, Saipem is now fully authorized to continue execution, with the offshore campaign planned to start in 2028.
Saipem’s scope covers the engineering, procurement, construction, and installation of subsea, umbilical, riser, and flowline (SURF) systems for the Hammerhead production facility and associated gas export infrastructure, located approximately 200 km from the Guyanese coast.
The project will be executed using a variety of construction and support vessels, including the Saipem FDS2 and the Shen Da, a chartered vessel within Saipem’s fleet. All logistics will be managed locally through the Vreed-en-Hoop Shorebase Inc. (VEHSI) yard, supporting employment and business opportunities for the Guyanese community.
With the Hammerhead project, Saipem reinforces its commitment to Guyana and strengthens its relationship with a strategic client. The company has previously been awarded six other contracts by ExxonMobil Guyana for projects in the region, including Liza Phase 1 and 2, Payara, Yellowtail, UARU, and Whiptail.
Source: Saipem