Saipem secured a $150 million Limited Notice to Proceed (LNTP) for ExxonMobil's Longtail deepwater project in Guyana, covering preliminary engineering and procurement of the subsea umbilicals, risers and flowlines (SURF) system. The award moves the development closer to a final investment decision and supports Guyana's rapid offshore expansion. Guyana's Stabroek Block has become a prolific deepwater hub, with ExxonMobil already sanctioning several large-scale projects. Saipem has been a key partner in the basin's build-out, having delivered SURF work for Liza Phase 1 and 2, Payara and Yellowtail. The LNTP, valued at approximately $150 million, covers the early-phase engineering and procurement for a development located about 1,750 meters below the surface. Upon full sanction, the contract could expand to a construction and installation scope worth between $750 million and $1.5 billion over roughly four years. With the LNTP in place, Saipem can begin detailed engineering and initial procurement while ExxonMobil and its partners advance toward regulatory approvals. The expanded scope would bring the project into the construction phase, further accelerating Guyana's oil supply growth. Saipem's new contract underscores the continued momentum in Guyana's offshore sector, one of the fastest-growing sources of new global oil supply. The partnership positions both companies to capitalize on the region's deepwater opportunities.