Italian engineering and construction heavyweight Saipem has secured new offshore contracts in Guyana and the Middle East, totaling approximately $730 million.
Among the notable clients is US energy supermajor ExxonMobil, underscoring the strategic importance of these regions in the global offshore oil and gas landscape. Saipem made the announcement on Wednesday, highlighting the significance of these wins for its growing portfolio of offshore services.
The first contract, awarded by a major — though unnamed — client in the Middle East, involves engineering, procurement, construction, and installation (EPCI) for the repair of damaged subsea pipelines. This multi-year project is expected to span three years and reflects a rising industry trend: the prioritization of maintenance and integrity operations in mature offshore fields.
Saipem emphasized that such maintenance initiatives are increasingly critical to optimizing production and extending the life of offshore assets. These services complement Saipem’s broader range of capabilities, including EPCIC (engineering, procurement, construction, installation, and commissioning) and EPRD (engineering, preparatory works, removal, and disposal) — both essential components of offshore oilfield lifecycle management.
In addition to its Middle East contract, Saipem confirmed offshore activities in Guyana, where the company has played a growing role in supporting ExxonMobil’s rapid expansion in the Stabroek Block. Guyana has emerged as one of the world’s most dynamic offshore oil provinces, with ExxonMobil and its partners ramping up production and infrastructure at a historic pace.
The recent award further consolidates Saipem’s position as a preferred contractor for complex offshore energy projects. The company has demonstrated a strong capacity for executing high-stakes operations across a diverse range of environments, from the Arabian Gulf to the deepwaters of South America.
These new contracts not only bolster Saipem’s project backlog but also reinforce its strategic shift toward servicing long-term infrastructure integrity and asset sustainability, areas that are increasingly valued in the offshore sector.
SOURCE: Oilspot Suriname