The deal with SBM Offshore aims to produce over 1 billion barrels of oil equivalent from Brazil’s Sergipe-Alagoas basin.
Petrobras signed contracts with SBM Offshore for two floating production storage and offloading vessels (FPSOs) to develop its Sergipe deepwater project. The vessels, SEAP-I and SEAP-II, will be owned by Petrobras and operated by SBM for an initial 6.5-year term.
The SEAP-II FPSO (P-87) is designed to produce 120,000 barrels of oil per day, with gas treatment capacity of 425 million standard cubic feet per day and water injection capacity of 120,000 barrels per day. Delivery is expected in 2030, supporting Petrobras’ goal of unlocking over 1 billion barrels of oil equivalent.
The agreement aligns with Petrobras’ strategy to expand offshore production in Brazil’s pre-salt fields, reinforcing its position in deepwater exploration and output growth.