en.Wedoany.com Reported - A significant milestone has been reached for two Floating Production, Storage, and Offloading (FPSO) projects by Dutch FPSO operator SBM Offshore, with the related engineering contracts soon to be finalized.

Recently, Petrobras announced on its official website that, following the approval of the Final Investment Decision (FID) for the SEAP II project in the Sergipe-Alagoas Basin in December 2025, the company has now approved the FID for the SEAP I project. The total value of the two projects is estimated to reach $7.8 billion.

The SEAP I and SEAP II projects will involve the construction of two new FPSOs, namely the P-81 FPSO and the P-87 FPSO. These will be contracted to SBM Offshore on a turnkey basis, both using the Build, Operate, and Transfer (BOT) contract model. Under this model, the contractor is responsible for the project's design, construction, installation, and operation for an initial contract period, after which the assets are transferred to Petrobras.

Currently, Petrobras has completed joint negotiations for the turnkey contracts of the two FPSOs. The contracts with SBM Offshore are expected to be signed in May 2026.

According to the plan, the P-81 FPSO will be deployed for the SEAP I project, with a design capacity of 120,000 barrels of oil per day and natural gas processing capacity of 10 million cubic meters per day. The P-87 FPSO will be deployed for the SEAP II project, with a design capacity of 120,000 barrels of oil per day and natural gas processing capacity of 12 million cubic meters per day. Crude oil production and natural gas exports are expected to commence in 2030 and 2031, respectively.

In addition to the construction of the two new FPSOs, the deepwater oil and gas development project in the Sergipe-Alagoas Basin also plans to construct and connect 32 oil and gas wells, and lay approximately 134 kilometers (111 km offshore and 23 km onshore) of gas export pipelines. The tender process for the subsea Christmas trees and core subsea equipment for the project has already been initiated. The tender processes for the remaining infrastructure are expected to be launched within 2026.

The total investment for the SEAP I and SEAP II projects exceeds 60 billion Brazilian reais, with recoverable oil and gas equivalent exceeding 1 billion barrels.

The SEAP I project encompasses three light oil fields: Agulhinha, Agulhinha Oeste, and Palombeta. The blocks fall under the BM-SEAL-10 and BM-SEAL-11 concession areas. BM-SEAL-10 is held by Petrobras (60%, operator) and IBV Brasil Petróleo (40%), while BM-SEAL-11 is 100% owned by Petrobras.

The SEAP II project encompasses three light oil fields: Budião, Budião Noroeste, and Palombeta. The blocks fall under the BM-SEAL-4, BM-SEAL-4A, and BM-SEAL-10 concession areas, located approximately 80 kilometers from the coast. BM-SEAL-4 is held by Petrobras (75%, operator) and ONGC Campos Limitada (25%). BM-SEAL-4A and BM-SEAL-10 are both 100% owned by Petrobras.

It is understood that SBM Offshore is an internationally leading provider of offshore energy services, headquartered in the Netherlands. It primarily offers full life-cycle solutions for FPSOs, covering design, construction, leasing, and operation, and is expanding into low-carbon technologies and diversified marine infrastructure.

Recently, SBM Offshore secured a Front-End Engineering Design (FEED) contract from ExxonMobil Guyana, a subsidiary of ExxonMobil, marking the sixth collaboration between the two companies in FPSO construction. Furthermore, in February of this year, SBM Offshore sold the FPSO ONE GUYANA to ExxonMobil Guyana for a total cash consideration of $2.32 billion.

Information shows that the FPSO ONE GUYANA is designed to produce approximately 250,000 barrels of oil per day, with associated gas processing capacity of about 450 million cubic feet per day and water injection capacity of about 300,000 barrels per day. It uses a spread mooring system, operates at a water depth of about 1,800 meters, and has a crude oil storage capacity of about 2 million barrels.

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