Italy-based company Saipem has received a new engineering, procurement, construction, and installation (EPCI) contract to develop the Liza field.
The contract is for subsea umbilicals, risers and flowlines (SURF) package of the proposed Liza project located nearly 120 miles offshore Guyana at a water depth of 1,800m.
The field is estimated to contain more than one billion oil equivalent barrels, and is operated by Esso Exploration and Production Guyana, an affiliate of ExxonMobil.
Saipem CEO Stefano Cao said: "We are delighted to have secured this award from an important client such as ExxonMobil. A further reason for our satisfaction is the opportunity to be among the first operators in the oil and gas industry to work in an emerging country like Guyana.
"This is an important milestone for Saipem and an exciting challenge in a frontier area."
The contract covers engineering, procurement, construction, and installation of the risers, flow lines, as well as associated structures and jumpers.
The contract award also includes transportation and installation of umbilicals, manifolds with the associated foundations for production, including water and gas injection systems.
In order to carry out these works, Saipem will deploy its FDS2 and the Normand Maximus vessels. Works are expected to start in 2019.
Along with this contract, Saipem has also been awarded new contracts and change orders for contracts currently underway in the North Sea and West Africa.
The combined value of these contracts is around $500m.
Saipem provides EPCI services on a turnkey basis to onshore and offshore projects in the oil and gas market.