Following the press release of 29 November 2023, Saipem informs that it has received from ExxonMobil Guyana Limited and its Stabroek block coventurers the authorization to proceed with the execution of the Whiptail oilfield development project, situated in the offshore Guyana, at a water depth of approximately 2,000 meters. The authorization has been granted subsequent to the final project sanction by the client and its coventurers and to the necessary regulatory clearances.
The Italian player was hired in November 2023 to handle the design, fabrication, and installation of subsea structures, risers, flowlines, and umbilicals destined for a large subsea production facility on the Whiptail oilfield development. This is ExxonMobil’s sixth project in the Stabroek block offshore Guyana located at a water depth of approximately 2,000 meters. After securing regulatory approvals, ExxonMobil made a final investment decision (FID) to develop the project at the end of last week.
Saipem’s scope of work entails the detailed Engineering, Procurement, Construction, and Installation (EPCI) of a subsea production facility. The contract value is between 750 million and 1.5 billion USD.
SBM Offshore secured a contract in October 2023 to perform front end engineering and design (FEED) for the FPSO, to be named Jaguar, which will work on the Whiptail project. This vessel, currently under construction, will be the fifth FPSO built by the Dutch player for operations in Guyana. The unit’s ownership will transfer to ExxonMobil Guyana before the FPSO’s installation in Guyana. SBM Offshore expects to operate the FPSO for ten years under the operations and maintenance enabling agreement signed in 2023.
Moreover, the FPSO Jaguar’s design is based on the Dutch firm’s Fast4Ward program, which incorporates the firm’s seventh newbuild multi-purpose floater hull combined with several standardized topside modules. With a production capacity of 250,000 barrels of oil per day, the FPSO will have an associated gas treatment capacity of 540 million cubic feet per day and a water injection capacity of 300,000 barrels per day. The vessel, which will be spread moored in a water depth of about 1,630 meters, will come with a storage capacity of around 2 million barrels of crude oil.
As previously announced, Saipem had already started initial activities, namely the detailed engineering and procurement of the long lead items, and following the issued authorization the company can proceed with the execution of the remaining project activities.
Saipem’s vessels FDS2, Castorone and Constellation will be used for the offshore installation. Furthermore, for the on-site construction of part of the submarine items, Saipem will deploy its Guyana Offshore Construction Facility, located at the Port of Georgetown, and an additional local fabrication facility, proof of the company’s continued commitment to the sustainable growth in the country.
Saipem had been previously awarded five additional contracts by ExxonMobil Guyana for projects in the same region: Liza Phase 1 and Phase 2, Payara, Yellowtail and UARU.