Petrobras Awards Major Offshore Contract to SLB Worth $800 Million

Zacks12-13

Petrobras S.A. PBR, the Brazilian state-owned oil company, has signed a major contract with SLB SLB, a leading global oilfield services provider, for the maintenance of its offshore fields. SLB will ...

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SLB will ...</p>\n\n<a href=\"https://finance.yahoo.com/news/petrobras-awards-major-offshore-contract-162600103.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FTI","symbol_name":"德希尼布FMC","start_time":0,"source_url":"https://finance.yahoo.com/news/petrobras-awards-major-offshore-contract-162600103.html","article_id":"2491332077","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/X6hOobay6_vEdpSLwfe5hw--~B/aD00NjU7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/3716a975dd2f30690b902745c1f03c4b"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491332077","pubTimestamp":1734020760,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Petrobras S.A.PBR, the Brazilian state-owned oil company, has signed a major contract with SLB SLB, a leading global oilfield services provider, for the maintenance of its offshore fields. 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SLB will offer integrated services for all offshore fields operated by Petrobras, particularly in the Campos, Santos and Espirito Santo basins. The deal is valued at $800 million.\nOverview of the Contract\nPer the terms of the agreement, SLB shall be responsible for managing the construction of more than 100 deepwater wells. The company mentions that this is included in Petrobras’ broader strategy to revive its already productive fields to optimize production. Additionally, the construction of these deepwater wells is also aimed at exploring new areas for development.\nPotential Expansion in the Equatorial Margin\nAs part of the ongoing contract, SLB may also support PBR’s operations in a region known as the Equatorial Margin. The region is known to have promising oil and gas reserves. However, Petrobras' plans to conduct exploration activities in the Equatorial Margin are contingent upon securing a license that has been long-sought by the Brazilian state-owned oil and gas company. If Petrobras successfully secures the license, then SLB shall support PBR’s exploration and production plans in the area. The contract is expected to begin in April 2025 and has a duration of three years, per SLB.\nPetrobras’ Increased Investment in E&P Activities\nPetrobras recently revealed its 2025-2029 Business Plan, which states that the company has raised its investment allocated toward exploration and production (E&P) activities. Notably, the Brazilian energy firm has set aside $77 billion for exploration and production activities. PBR aims to invest more in E&P to replenish its reserves, ensuring sustained production in the future.  \nZacks Rank and Key Picks\nCurrently, PBR carries a Zacks Rank #3 (Hold), while SLB has a Zacks Rank #4 (Sell).\nSome better-ranked stocks from the energy sector areTechnipFMC plc FTI and Nine Energy Service NINE, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nTechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a high of $14.7 million in the third quarter of 2024, indicating an 11.1% increase from the previous year’s level. This growing backlog ensures strong revenue growth for FTI.\nNine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the need for NINE’s services is anticipated to increase, which should position the company for growth in the long run.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nSchlumberger Limited (SLB) : Free Stock Analysis Report\nPetroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nNine Energy Service, Inc. (NINE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491332077"}