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Saipem Secures $500M Contract for ExxonMobil's Hammerhead Project

9/27/2025

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Summary

Story summary

Saipem has authorization for a $500 million engineering, procurement, construction, and installation (EPCI) contract for ExxonMobil's Hammerhead field.
The Hammerhead project is valued at $6.8 billion and includes 18 production and injection wells.
ExxonMobil plans to start operations in 2029 and aims for 150,000 barrels per day.
TechnipFMC secured a subsea contract worth $250-$500 million for Hammerhead.

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Story summary

Saipem has authorization for a $500 million engineering, procurement, construction, and installation (EPCI) contract for ExxonMobil's Hammerhead field.
The Hammerhead project is valued at $6.8 billion and includes 18 production and injection wells.
ExxonMobil plans to start operations in 2029 and aims for 150,000 barrels per day.
TechnipFMC secured a subsea contract worth $250-$500 million for Hammerhead.