Saipem has been awarded a new Limited Notice to Proceed (LNTP), valued at approximately USD 150 million, by ExxonMobil Guyana Limited for the engineering, procurement, construction, and installation (EPCI) of subsea structures, umbilicals, risers, and flowlines (SURF) for the Longtail project. The project is located in the Stabroek Block offshore Guyana at a water depth of around 1,750 metres.
The LNTP enables Saipem to begin initial detailed engineering and procurement activities. The execution of the full EPCI scope, including construction and installation, remains subject to required governmental and regulatory approvals, as well as the Final Investment Decision (FID) by ExxonMobil Guyana Limited and its partners in the Stabroek Block. Upon approval, the overall contract is expected to span approximately four years, with an estimated total value ranging between USD 750 million and USD 1.5 billion.
Saipem has an established track record in the Stabroek Block, having worked with ExxonMobil Guyana Limited on seven offshore development projects. Of these, four projects, Liza Phase 1, Liza Phase 2, Payara, and Yellowtail, have already been successfully completed.
Source: Saipem