Brazilian oil company, Petrobras, announced more than R$70 billion (US$13.6 billion) in investments in Sergipe on May 29 during President Luiz Inácio Lula da Silva’s visit to the company’s fertilizer plant in Laranjeiras, Brazil.
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The investment is anchored by more than R$60 billion (US$11.7 billion) dedicated to the Sergipe Deepwater Project (SEAP), which is expected to establish a new offshore production frontier in Brazil’s Northeast.
Petrobras President Magda Chambriard said SEAP will transform Sergipe into the largest oil-producing state in Brazil’s Northeast.
“We are going to bring the gas onshore here. These two platforms we are building are also proof of Petrobras’ technological and creative capabilities. Each platform will have its own natural gas processing unit. What lowers natural gas prices is not changing ownership but investing seriously and increasing production efforts so that supply and demand can work effectively,” Chambriard said.
Contracts were signed with SBM Offshore for the SEAP P-81 and P-87 FPSO platforms. The units will have a combined capacity to produce up to 240,000 barrels of oil per day and process 22 million cubic meters of natural gas daily. SBM Offshore will handle design, construction, installation, and six and a half years of operations and maintenance.
Petrobras said the first oil from SEAP is expected in 2030, with gas exports beginning in 2031.
“In addition to the two FPSOs, the project includes the construction and tie-in of 32 wells and the installation of a 134-kilometer gas export pipeline. The development of SEAP, including pipeline construction, is expected to generate more than 25,000 direct and indirect jobs,” the Dutch company said.
Beyond SEAP, Petrobras outlined R$12.5 billion (US$2.4 billion) for decommissioning 26 shallow-water platforms in Sergipe by 2035, including plugging and abandonment of 169 wells and offshore structure removal. The program is expected to generate about 950 direct jobs.
According to Petrobras, these developments are part of its Strategic Plan and will support large-scale upstream expansion in the region.
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