Petrobras bringing $12-billion oil & gas conducting pair to lifestyles with SBM Offshore on FPSO responsibility for every

Brazilian convey-owned energy big Petrobras has made a closing funding decision (FID) for yet any other development within the Sergipe Alagoas Basin off the high-tail of Brazil. Dutch big SBM Offshore is responsible of two floating production, storage, and offloading (FPSO) vessels that can enable production from the 2 authorized projects, that can maybe build the stage for a unusual oil and gas production frontier within the country.

Nearly four months after disclosing the FID for the SEAP II module in December 2025, Petrobras printed the final funding decision for the SEAP I conducting within the Sergipe-Alagoas Basin, consolidating the enchancment of Sergipe Deepwater (SEAP). 

With total investments exceeding R$ 60 billion (around $12.02 billion), the 2 projects are anticipated to put greater than 1 billion barrels of oil the same (boe), representing well-known financial returns for the firm and making a associated contribution to increasing national oil and gas production.

The firm claims that the feasibility of the projects resulted from a series of initiatives performed along with the dealer market, notably conducting optimizations and the revision of contractual phrases and stipulations, which increased the financial fair genuine looks of every modules.

Right here is expounded to dangle enabled the structuring of the joint negotiation for the FPSO P-81 and P-87 objects, that can maybe additionally very properly be phase of the SEAP I and SEAP II projects, respectively, pondering the capture of well-known synergies and economies of scale, traditional for concluding the negotiation on economically sustainable phrases.

“The stipulations carried out increased the financial return of the projects and enabled the inclusion of SEAP I within the Immoral Implementation Portfolio. This end result reinforces the significance of partnership and spirited engagement between the firm and the dealer market as central parts for conducting feasibility, even in a context structurally marked by oil worth volatility,” highlighted Petrobras.

The Brazilian big performed a contracting course of for the enchancment of two FPSO-form oil production objects for the SEAP conducting, under the fabricate, operate and switch (BOT) contracting mannequin, where the contractor is liable for the fabricate, development, assembly, and operation of the asset for an preliminary length defined within the contract, with subsequent switch to the oil and gas operator.

As a end result, the signing of the contracts is anticipated in Could well maybe 2026, after the completion of Petrobras’ governance procedures and the well-known accomplice approvals. The firm underlines that SBM Offshore can be liable for the enchancment of every platforms, which together will dangle an build in capacity to put up to 240,000 barrels of oil per day and course of twenty-two million cubic meters of pure gas per day.

With the exception of the 2 FPSOs, the conducting involves the enchancment and interconnection of 32 wells, to boot to the implementation of an export gas pipeline roughly 134 kilometers long — 111 kilometers offshore and 23 kilometers onshore. The bidding course of for the provision of subsea Christmas Trees (WCTs) and equipment for every projects is already underway.

The bidding for the ideal infrastructure is anticipated to start up later in 2026. While oil production from SEAP II is scheduled to start up in 2030, with gas exports origin in 2031, production from SEAP I is anticipated after the Industrial Thought 2026-30 horizon. The SEAP I conducting covers reservoirs with gentle oil, regarded as top quality, belonging to the Agulhinha, Agulhinha Oeste, and Palombeta fields, positioned within the BM-SEAL-10 and BM-SEAL-11 concessions.

Petrobras is the operator of BM-SEAL-11 with a 60% stake, in partnership with IBV Brasil Petróleo (40%), and BM-SEAL-10 with 100% participation. The FPSO for the conducting will dangle the capacity to put 120,000 barrels of oil per day and course of 10 million cubic meters of pure gas day-to-day.

The SEAP II conducting encompasses reservoirs with gentle oil, regarded as top quality, belonging to the Budião, Budião Noroeste, and Palombeta fields, positioned about 80 kilometers off the high-tail within the BM-SEAL-4, BM-SEAL-4A, and BM-SEAL-10 concessions, respectively.

Petrobras is the operator of BM-SEAL-4 with a 75% stake, in partnership with ONGC Campos (25%), and BM-SEAL-4A and BM-SEAL-10, where it holds 100% participation. The FPSO to be deployed will dangle a day-to-day processing capacity of 120,000 barrels of oil and 12 million cubic meters of gas.

“SEAP is strategic for increasing the provision of pure gas within the country, strengthening national energy infrastructure, and opening a unusual production frontier within the Northeast location,” emphasized the Brazilian convey-owned big.