SBM Offshore Secures Contracts from Petrobras for Two FPSOs, SEAP-I and SEAP-II

Deep News06-01

SBM Offshore has been awarded two contracts by Petrobras for floating production, storage, and offloading (FPSO) projects in the Sergipe-Alagoas Basin off the northeast coast of Brazil.

SBM Offshore will be responsible for the design, construction, and operation of the two FPSOs, named SEAP-I and SEAP-II. A consortium led by Petrobras will own the vessels, while SBM Offshore will operate them under separate operation and maintenance contracts for an initial period of 6.5 years.

The design for both FPSOs is based on SBM Offshore's industry-leading Fast4Ward program, utilizing the company's 11th and 12th newbuild, multi-purpose hulls.

The SEAP-II FPSO is designed to process 120,000 barrels of oil per day, with a capacity to handle 425 million standard cubic feet of associated gas daily and inject 120,000 barrels of water per day. This unit is scheduled for delivery in 2030 and will be deployed in the Sergipe-Alagoas Basin, approximately 80 kilometers offshore in water depths of around 2,500 meters.

The SEAP-I FPSO is designed to process 120,000 barrels of oil per day, handle 355 million standard cubic feet of associated gas daily, and inject 200,000 barrels of water per day. It is expected to be delivered in 2031 and will be located in the same basin, about 100 kilometers from the coast in water depths of approximately 2,500 meters.

Both FPSOs will be connected to subsea gas export pipelines for direct transportation of gas to shore. This configuration allows the associated gas produced offshore to be delivered for commercial use onshore, supporting Brazil's domestic gas consumption while minimizing offshore flaring and reinjection. The integration of gas processing and export infrastructure enhances the overall project value by monetizing gas alongside oil production and represents a significant advancement in SBM Offshore's onboard gas treatment technology for FPSOs.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment