Saipem eyes US$10bn Americas pipeline

Oilfield service provider Saipem's commercial pipeline of opportunities in the Americas reaches 8.5bn euros (US$10bn).

The group provided the figure during its first-quarter results presentation. The business outlook refers to engineering and construction prospects over the next 18 months.

Companywide, the commercial pipeline totals 58bn euros, of which the Middle East and Africa represent 34% and 28%, respectively, Asia Pacific 12%, and Europe, CIS and Central Asia, 11%.

Of the 8.5bn euros for the Americas, 5.6bn euros correspond to opportunities in the floater, upstream and renewables and green segments, and 2.9bn euros to subsea umbilicals, risers and flowlines (SURF), and trunklines.

Meanwhile, Saipem's Americas backlog stands at 3.6bn euros, or 12% of the group's total backlog.

During the presentation, CEO Alessandro Puliti highlighted this week's announcement of a US$150mn award by ExxonMobil Guyana for the Longtail project at the Stabroek offshore block.

The limited notice to proceed is for the engineering, procurement, construction and installation of the SURF system.

"Once approved, the full contract will have an expected duration of around four years and an estimated overall value of between $750 million and $1.5 billion USD," Saipem said.

(The original version of this content was written in English)