Final Investment Decision for SEAP I and conclusion of FPSO negotiations consolidate operations in a new oil and gas production frontier in the Northeast.
Petrobras has approved the final investment decision (FID) for the SEAP I project in the Sergipe-Alagoas Basin, consolidating the development of Sergipe Deepwater (SEAP), a new oil and gas production frontier in the country. The FID for the SEAP II module had already been approved in December 2025.
The feasibility of the projects resulted from a series of initiatives conducted by Petrobras in conjunction with the supplier market, notably the project optimizations and the revision of contractual terms and conditions, which increased the economic attractiveness of the two modules.
These advancements enabled the structuring of joint negotiations for the P-81 and P-87 platforms, which will integrate the SEAP I and SEAP II projects, respectively. This allowed for the capture of significant synergies and economies of scale, fundamental for concluding the negotiations on an economically sustainable basis.
The conditions achieved increased the financial return of the projects and enabled the inclusion of SEAP I in the Base Implementation Portfolio. This result reinforces the relevance of partnership and active listening between the company and the supplier market as central elements for the viability of projects, even in a context structurally marked by the volatility of oil prices.
The signing of the contracts is scheduled for May 2026, after the governance stages are completed and approvals are obtained from the partners. This milestone accelerates the project execution phase.
SBM Offshore will be responsible for building the two platforms, which together will have an installed capacity to produce up to 240,000 barrels of oil per day and process 22 million m³ of natural gas per day. Oil production is scheduled to begin in 2030, with gas exports starting in 2031.
The contracting model adopted for both platforms is BOT (Build, Operate and Transfer), in which the contractor is responsible for the design, construction, assembly and operation of the units for an initial period defined in the contract, with subsequent transfer to Petrobras.
The conclusion of this negotiation represents a significant milestone in the company's supply strategy, confirming that the BOT model is a mature solution, offering Petrobras the necessary flexibility to enable new projects in its portfolio, even in the face of current market challenges.
'The choice of the BOT contracting model contributed to enabling the start of production in less time. This result reflects the joint work of Petrobras, its partners, and the supplier market aimed at adding value to projects and strengthening the company's strategy,' says Renata Baruzzi, Director of Engineering, Technology and Innovation.
With total investments exceeding 60 billion reais, the two projects foresee the production of more than 1 billion barrels of oil equivalent (boe), representing a significant economic return for Petrobras and contributing significantly to the increase in national oil and gas production.
National strategic project and new gas frontier
SEAP is strategic for expanding the availability of natural gas in the country, strengthening the national energy infrastructure, and opening a new production frontier in the Northeast region.
In addition to the two FPSOs, the project includes the construction and interconnection of 32 wells, as well as the implementation of a gas pipeline approximately 134 km long — with 111 km offshore and 23 km onshore.
The bidding process for the supply of underwater Christmas trees (ANMs) and subsea equipment for the two projects is already underway, and the bidding process for the remaining infrastructure is expected to begin in 2026.
SEAP I
The SEAP I project encompasses the light oil deposits, considered to be of good quality, belonging to the Agulhinha, Agulhinha Oeste, and Palombeta fields, located in the BM-SEAL-10 and BM-SEAL-11 concessions. Petrobras operates the BM-SEAL-11 concession – with a 60% stake, in partnership with IBV Brasil Petróleo LTDA (40%) – and BM-SEAL-10, where it holds a 100% stake.
This unit will have the capacity to produce 120,000 barrels of oil per day and process 10 million cubic meters of natural gas per day. ?
SEAP II
The SEAP II project encompasses deposits with light oil, considered to be of good quality, belonging to the Budião, Budião Noroeste, and Palombeta fields, located approximately 80 km off the coast in the BM-SEAL-4, BM-SEAL-4A, and BM-SEAL-10 concessions, respectively. Petrobras operates the BM-SEAL-4 concession – with a 75% stake in partnership with ONGC Campos Limitada (25%) – and BM-SEAL-4A and BM-SEAL-10, where it holds a 100% stake.
This unit will have a daily processing capacity of 120,000 barrels of oil and 12 million cubic meters of gas.
Source: Petrobras
