Saipem (SAPMF) Proceeds With Whiptail Oilfield Project in Guyana [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
ExxonMobil Guyana, an affiliate of Exxon Mobil Corporation XOM and its coventurers in the Starbroek Block. The project is located offshore Guyana at a depth of approximately 2,000 meters underwater. Saipem has been granted the authorization following the final project sanction by the clients and the attainment of all necessary regulatory clearances. Saipem will be responsible for detailed engineering, procurement, construction and installation (EPCI) of a subsea production facility for the Whiptail oilfield development project. The company secured the contract in November 2023 and the value of the same ranges between $750 million and $1.5 billion. SAPMF stated that it has already begun the initial tasks for the project, including the detailed engineering and procurement of the long lead items. With the authorization, the company can advance with the execution of the remaining project activities. For offshore installation, Saipem will deploy its vessels — FDS2, Castorone and Cons
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