Petrobras and SLB OneSubsea Strengthen Cooperation: New Major Contract in the Santos Basin

SLB OneSubsea has been awarded a contract by Petrobras for the supply of subsea production systems and services for two ultra-deepwater projects off the coast of Brazil. The contract includes further development of the Atapu and Sepia oil and gas fields in the Santos Basin. The agreement encompasses the provision of vertical pre-salt trees according to Petrobras' standard, subsea distribution units, and subsea control and pipeline systems. Additionally, SLB OneSubsea will be responsible for the installation, commissioning, and lifecycle maintenance of these systems. The majority of the technology and equipment, including the vertical trees and subsea control systems, will be produced and maintained at SLB OneSubsea's local facilities in Brazil. SLB OneSubsea CEO, Mads Hjelmeland, emphasized: "This award deepens our valuable partnership with Petrobras, and we are proud to support the development of such significant resources for Brazil." In May, TotalEnergies and its consortium partners announced the final investment decision for the second development phase of the Atapu and Sépia offshore fields. This was a significant step for the advancement of these pre-salt fields, which will integrate two new floating production storage and offloading units (FPSO), each designed to process 225,000 barrels of oil per day. The Atapu field has been operational since 2020 with the P-70 FPSO and will receive an additional FPSO, the Atapu-2, as part of this expansion. Petrobras holds a 65.7% stake and operates the field, while TotalEnergies holds a 15% stake. Shell, Petrogal, and PPSA hold shares of 16.7%, 1.7%, and 0.9%, respectively. The Sépia field, operational since 2021 with the Carioca FPSO, will also be expanded with the introduction of a new FPSO, Sépia-2. TotalEnergies holds a 16.9% stake here, with Petrobras as the operator holding 55.3%, followed by Petronas and QatarEnergy each with 12.7%, and Petrogal with 2.4%.