Saipem Secures $1.9 Billion Offshore Contract from TotalEnergies in Suriname

Saipem has secured a significant EPCI (Engineering, Procurement, Construction, and Installation) contract from TotalEnergies EP Suriname B.V., a subsidiary of TotalEnergies, for the GranMorgu project in Block 58, located 150 km off Suriname's coast. Valued at $1.9 billion, this contract marks Suriname's first major subsea development, aiming to enhance production in the block's central area. The project involves subsea wells connected to a Floating Production, Storage, and Offloading (FPSO) vessel, with First Oil targeted for 2028 and a project duration of five years.

Saipem’s responsibilities include the engineering, procurement, construction, installation, and commissioning of the Subsea Umbilicals, Risers, and Flowlines (SURF) package. This entails laying approximately 100 km of 10” to 12” subsea production flowlines, 90 km of 8” to 12” water and gas injection pipelines, as well as installing flexible risers, umbilicals, and related infrastructure at depths ranging from 100 to 1,100 meters. The offshore operations, scheduled for 2027 and 2028, will employ Saipem’s S-Lay and J-Lay vessels, ensuring optimal pipeline installation.

Saipem will execute the project in partnership with TechnipFMC, responsible for the Subsea Production System (SPS) and flexible risers and umbilical equipment packages. This collaboration leverages the strategic alliance formed between the two companies in 2021, which focuses on integrated SURF-SPS developments for subsea projects. The synergy aims to optimize the interface and execution of the mutual scopes of work.

The GranMorgu project strengthens Saipem’s presence in South America and reinforces its expertise in managing complex subsea developments. Additionally, the long-term contract contributes to fleet utilization until 2028, underscoring Saipem’s commitment to delivering innovative solutions for offshore energy projects.

Saipem is a worldwide leader in engineering and construction, specializing in energy and infrastructure projects across offshore and onshore sectors. Organized into specialized business lines—Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics & Industrialized Solutions—the company delivers innovative solutions worldwide.

With six fabrication yards, an offshore fleet comprising 21 construction vessels (17 owned and 4 managed by Saipem), and 15 drilling rigs (9 owned), Saipem is equipped to handle complex projects. Guided by its purpose, *"Engineering for a sustainable future,"* the company is committed to driving the energy transition towards Net Zero through cutting-edge digital technologies and environmentally sustainable processes.

Headquartered in Italy and listed on the Milan Stock Exchange, Saipem operates in over 50 countries, employing approximately 30,000 people from 120 nationalities. The company’s dedication to innovation and sustainability makes it a trusted partner for clients navigating the evolving energy landscape.