Saipem awarded new contracts in the Middle East and in Guyana for a total amount of approximately 720 million Dollars. The first contract includes the activities of Engineering, Procurement, Construction and Installation (EPCI) for the repair of damaged underwater pipelines for a important customer in the Middle East. The project, which has a duration expected to last three years - highlighted the Italian company in a note - stresses the growing importance of the maintenance of existing offshore fields, which is an integral part of the Saipem portfolio to complement EPCIC activities (Engineering, Procurement, Construction, Installation & Commissioning) and EPRD (Engineering, Preparatory works, Removal and Disposal).

The second contract is a Limited Notice To Proceed (LNTP) of ExxonMobil Guyana Limited, subject to the necessary government and regulatory approvals, and includes engineering, the Procurement, Construction and Installation (EPCI) of subsea structures, umbilicals, risers and flowlines (SURF) for The production plant and the gas export system on the oilfield development project Hammerhead, located in the Stabroek block off Guyana a short distance from depth of about 1,000 meters. The LNTP allows Saipem to start the preliminary work activities, i.e. detailed engineering and procurement, to ensure the start of the project as soon as possible in 2029, if it receives the government approvals required. The execution of the remaining activities covered by the contract (e.g. construction and installation) is subject to government approval, and as well as that of the project by ExxonMobil Guyana Limited and its Stabroek block co-venturers. Saipem will perform operations using a variety of construction and support vehicles, including the Saipem FDS2. Logistics will be entirely executed and managed in Guyana via the Vreed-en-Hoop shipyard Shorebase Inc. (VEHSI), generating Employment and opportunities for the Guyanese people. The The project's expected duration is four years.