With its plan to activate two approved oil and gas projects in the Sergipe Alagoas Basin offshore Brazil, state-owned energy giant Petrobras has signed deals to purchase two floating production, storage and offloading (FPSO) units with Dutch giant SBM Offshore, laying the foundation for a new frontier of oil and gas production in the South American country.
Exceeding the total investments 60 billion Brazilian reals (about $12 billion)Petrobras certain The two projects will produce more than 1 billion barrels of oil equivalent (boe) with the final investment decision (FID) for the project revealed. SEAP I The project in the Sergipe Alagoas Basin is approximately four months away advertisement FID for SEAP II Unit in December 2025, promoting development Sergipe Deepwater (SEAP).
The Brazilian giant has now signed contracts with SBM Offshore to build two FPSO-type oil and gas production units for the SEAP project under the build, operate and transfer (BOT) model. While Petrobras will be the owner of the units, the Dutch giant will be responsible for the design, construction and assembly, as well as operation and maintenance of the two FPSO units for an initial period of 6.5 years.
the FPSO P-87 As for the SEAP-II plan, it will have a production capacity of 120,000 barrels of oil per day and process 12 million cubic meters of natural gas per day. Oil production is scheduled to begin in 2030, and gas exports will begin in 2031.
This project comprises reservoirs of high-quality light oil and non-associated gas with low contaminant content, located approximately 80 km offshore, in the BM-SEAL-4, BM-SEAL-4A and BM-SEAL-10 concessions.
Petrobras is the operator of the BM-SEAL-4 concession, with a 75% interest, in partnership with ONGC Campos Limitada (25%), and operates the BM-SEAL-4A and BM-SEAL-10 concessions, in which it holds a 100% interest.
On the other hand, the FPS OP-81 The SEAP-I project will have a proven capacity to produce 120,000 barrels of oil per day and process 10 million cubic meters of natural gas per day. Production is scheduled to begin in 2031.
The SEAP I project consists of reservoirs of high-quality light oil and non-associated gas with low contaminant content, located approximately 100 km offshore in the BM-SEAL-11 and BM-SEAL-10 concessions. Petrobras is the operator of the BM-SEAL-11 concession, with a 60% interest, and in partnership with IBV Brasil Petróleo (40%), holds a 100% interest in the BM-SEAL-10 concession.
Two production, storage and offloading units (FPSOs) will be connected to a production offloading gas pipeline of approximately 134 km, of which 111 km offshore and 23 km onshore, to help expand the availability of natural gas in Brazil and enhance energy security.
These two projects are said to represent a significant economic return for the Brazilian player, contributing to increasing national oil and gas production and developing new frontiers of hydrocarbon production in the northeastern region of Brazil.
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