Offshore Technology · April 22, 2026 (Apr 22) · 1 min read

Saipem secures $150m contract for Longtail project in Guyana

Isometric technical illustration of offshore oil and gas operations with drillship and support vessel — Illustration: ExxonMobil

Analysis

AI-assisted analysis · reviewed by Yuri Kan

Saipem has been awarded a Limited Notice to Proceed (LNTP) worth approximately $150 million by ExxonMobil Guyana for work on the Longtail project. This award signals continued investment and development in Guyana's offshore oil resources.

Key Facts

Saipem received an LNTP from ExxonMobil Guyana.
The contract is valued at around $150 million.
The contract relates to the Longtail project in Guyanese waters.

Market Impact

This contract strengthens Saipem's position in the growing Guyanese offshore market and demonstrates ExxonMobil's commitment to developing its resources in the region. It will likely lead to further subcontracts and opportunities for other service providers in the oil and gas sector.

Why This Matters for Cyprus

This award highlights the ongoing development of Guyana's offshore oil reserves, creating opportunities for companies involved in offshore engineering, procurement, construction, and installation.

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