Italy’s Saipem is poised to kick off work on a large subsea, risers, flowlines and umbilicals contract for ExxonMobil’s Uaru field development, the US supermajor’s fifth offshore development on the prolific Stabroek block offshore Guyana.

Saipem said “it has received from ExxonMobil Guyana and its Stabroek block coventurers the authorisation to proceed with the final phase of the Uaru oilfield development project in Guyana”, when confirming the award on Thursday.

“In 2022, pending regulatory approvals, Saipem was awarded a large contract by ExxonMobil Guyana for the Uaru oilfield development project” located in water depths of about 2000 metres, the contractor noted.