Saipem has successfully completed its designated scope of work for the development of the Yellowtail field, operated by ExxonMobil Guyana Ltd. (ExxonMobil), located in approximately 1,800 metres of water within the Stabroek Block offshore Guyana.

Awarded the contract in 2022, Saipem undertook the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilical, Riser, and Flowline (SURF) system for the Yellowtail field. The FDS2 J-lay vessel, one of Saipem’s flagship assets, executed the installation of the rigid flowline and steel lazy wave risers in an early 2024 campaign. The project concluded in 2025 with the Saipem Constellation executing the installation of flexible risers, umbilicals, and the connection of the pre-laid rigid riser to the FPSO. Additionally, the Normand Samson, a Saipem-chartered MSV (Multi-Support Vessel), was involved throughout the offshore campaign from mid-2024, delivering subsea pre-commissioning, surveys, light construction, and installation of flowline jumpers fabricated at Saipem’s yard in Georgetown. All offshore and onshore activities adhered to the highest standards of safety and quality and were completed on schedule.

This project further consolidates Saipem’s strategic position and execution capabilities in large-scale deepwater developments, building on experience gained with previous projects for ExxonMobil Guyana, Liza Phase 1 and 2, Payara and UARU, which offshore phase commenced in March 2025. Leveraging operational efficiency and expertise in managing complex projects alongside clients and stakeholders, Saipem contributed to an advanced production start-up of the field by nearly four months.

Saipem remains committed to delivering innovative engineering and technological solutions in challenging geological settings such as the Stabroek Block. The company integrates acquired expertise with a focus on sustainability and local development and will continue to collaborate closely with local communities and stakeholders, fostering economic growth and the development of specialised skills onsite.

About Saipem

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures. The company has 5 fabrication yards and an offshore fleet of 17 construction vessels owned and 13 drilling rigs, of which 9 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 130 nationalities.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.