Page 9 - LatAmOil Week 18 2021

LatAmOil GUYANA LatAmOil

They have asserted that this model results in the Jr. noted last year that international financial
signing of contracts that are far more favourable institutions (IFIs) such as the World Bank and
to outside investors than to host countries with the International Monetary Fund (IMF), along
respect to the division of crude oil and natural with multi-lateral groups such as the Extractive
gas revenues. Industries Transparency Initiative (EITI), were
Ali and his allies are not the only ones taking also proponents of transparency and the sale of
this stance. Guyanese economist Bobby Gossai, assets through competitive public bidding. ™

Saipem gears up to launch

logistics base in Georgetown

SAIPEM, the Italian oilfield services provider, is Saipem intends to use the logistics base and
reportedly set to launch a new logistics base and construction facility to support the tasks it is car-
offshore construction facility in Georgetown, rying out within several sections of Stabroek, a
the capital of Guyana, within the next few weeks. massive offshore block operated by ExxonMobil
According to a report from OilNOW.gy, the (US).
facility is due to begin operating before the end The Italian company has won multiple ser-
of May. As of press time, Saipem had not made vice contracts within the framework of the
any statements confirming the date. Stabroek project, including an engineering, pro-
For his part, Giorgio Martelli, the president curement, construction and installation (EPCI)
and CEO of Saipem America, indicated that he contract that covers the installation of a subsea
was satisfied with the progress of work at the site production facility at the Payara field.
of the base. ExxonMobil hopes to use the facility for its
“The opening of this facility represents a key third-phase development project at Payara,
milestone in Saipem’s local content development which is due to begin production in 2024.
plan and a great step forward in our relationship Saipem intends to fabricate some components of
with the dynamic nation of Guyana,” he was the production facility at its base in Georgetown,
quoted as saying by OilNOW.gy. which has been outfitted with the largest heavy
The Italian company has striven to maxim- lift crane ever to operate in Guyana, as well as a
ise local content in the project, and Guyanese heavy load-bearing jetty and specialised welding
citizens account for more than 80% of its local and testing equipment.
staff contingent. It has assigned all construction Payara is one of the 19 oil-bearing fields
contracts related to the logistics base to Guya- found within the Stabroek block, which is
nese companies and will arrange for Guyanese believed to contain more than 9bn barrels of oil
firms to provide a range of services to the facility, equivalent (boe). ExxonMobil and its partners
including but not limited to equipping the fabri- commenced first-phase production at the Liza-1
cation yard, according to Gianluigi Della Rosa, site in December 2019 and hope to launch sec-
Saipem’s offshore area procurement manager. ond-phase work at Liza-2 next year. ™

Saipem’s base in Georgetown will support the Payara project (Photo: Saipem)

Week 18 06•May•2021 www. NEWSBASE .com P9