Petrobras to address domestic offshore demands with $73 billion production, exploration investment

April 22, 2024

(WO) – At the "Strengthening the National Shipbuilding Industry and the Offshore Energy Sector," held by the Brazilian Oil and Gas Institute (IBP) on Thursday, 4/18, Petrobras estimated investments of around $73 billion in exploration and production activities announced that it will allocate part of this investment to address demands in the naval and offshore industry, with actual construction opportunities in Brazil.

The projects related to these demands include oil platforms, maritime support vessels, cabotage vessels, and the sustainable disposal of units. Petrobras expects to create up to 100,000 jobs with this demand within the estimated project timeframe.

Opportunities for domestic industry. In the context of the domestic industry demands, Petrobras will put 14 FPSO-type platforms into production by 2028. Beyond this deadline, seven more platforms may be implemented if there is technical and economic viability. As for support vessels, the company will contract around 200 units in the 2024-2028 period.

As for oil drilling rigs, Petrobras will have a fleet of approximately 25 drilling ships by 2024 used in oil drilling activities. By 2028, the company expects its fleet to reach 30 rigs.

Petrobras is also conducting studies to hire vessels for its subsea activities and cabotage navigation. As part of the sustainable disposal of platforms, the company plans to decommission 23 units by 2028, of which 9 are fixed, 14 are floating, and a further 40 units after 2028.

In addition to the 14 new FPSOs (floating production, storage, and transfer units) planned in the company's Strategic Planning, Petrobras announced studies to contract another seven platforms to be installed after 2028 in projects to revitalize fields already in production.

The company also presented a demand for the sustainable disposal of 23 platforms and studies for constructing 16 cabotage vessels (four oil tankers, eight gas tankers, and four medium-haul cabotage vessels).

"With these orders duly mapped out and without prejudice to new announcements ahead, we will now contribute to the federal government recreating a favorable environment for investment and local supply, helping decisively to rehabilitate the Brazilian naval and offshore industry," explained Petrobras president Jean Paul Prates.

Petrobras' Director of Engineering, Technology, and Innovation, Carlos José Travassos, explained that between 2018 and 2022, the company reached a peak of 20,000 tons/year in the construction of FPSO modules for the Brazilian naval industry.

The forecast for the 2024-2028+ Strategic Plan is to peak at 60,000 tons/year. Travassos states there will also be opportunities to contract 38 support vessels, which should come into operation by 2030. There will be 12 PSVs (Platform Supply Vessels), 10 OSRVs (Oil Spill Response Vessels), and 16 RSVs (Remotely Supported Vessels).

"The conditions in the natural tenders will favor the manufacture of support ships in Brazil. The complexity of our projects and meeting local content requirements will provide challenges and great opportunities for the Brazilian industry," said Travassos.

He also noted that the modules for the P-78, P-79, P-80, P-82, and P-83 platforms, owned by Petrobras, are under construction in Brazilian shipyards. He added that his own P-84 and P-85 units are in the final stages of being contracted for construction.



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