Brazil’s state oil company Petrobras has approved the final investment decision for the SEAP I project, with SBM Offshore set to construct the platforms for the Sergipe-Alagoas Basin development.
The approval advances the Sergipe Águas Profundas (SEAP) project, described as “a new frontier of oil and gas production” in Brazil. SEAP has two modules/segments. The SEAP II module already received approval in December 2025.
According to Petrobras, SBM Offshore will build platforms P-81 and P-87 under a Build, Operate, and Transfer model.
“SBM Offshore will be responsible for the construction of the two platforms, which, together, will have an installed capacity to produce up to 240 thousand barrels of oil per day and process 22 million m³ of natural gas per day. The start of oil production is scheduled for 2030, with gas exports starting in 2031,” the company said on April 13.
Petrobras noted that feasibility improved through “project optimizations and the review of contractual terms and conditions,” which increased the economic attractiveness of both modules.
The company said contracts are scheduled to be signed in May 2026, following governance approvals, marking the transition to execution.
Renata Baruzzi, Director of Engineering, Technology and Innovation, stated, “The choice of the BOT contracting modality contributed to making it possible to start production in less time.”
Petrobras discovers hydrocarbons in Campos Basin exploration well, samples to undergo testing︱OilNOW
She added that the result reflects “the joint work of Petrobras, its partners and the supplier market to add value to the projects and strengthen the company’s strategy.”
Petrobras said total investments exceed $60 billion reais (approximately US$12 billion), with expected production of more than 1 billion barrels of oil equivalent.
The project includes 32 wells and a 134-kilometer gas pipeline, with 111 kilometers offshore and 23 kilometers on land. Petrobras described SEAP as “strategic to expand the availability of natural gas in the country” and to strengthen national energy infrastructure.
SEAP I will target light oil in the Agulhinha, Agulhinha Oeste, and Palombeta fields, with a capacity of 120,000 barrels per day and 10 million cubic meters of gas.
SBM Offshore is a Dutch offshore solutions provider that specializes in building floating production vessels, with a strong record of such deliveries in Guyana and Brazil.
