Petrobras takes FID on SEAP FPSO development in Brazil basin

(WO) — Petrobras has approved the final investment decision (FID) for the SEAP I project in Brazil’s Sergipe-Alagoas basin, marking a key step in developing a new offshore oil and gas frontier in the country’s northeast. 

The decision advances the broader Sergipe Águas Profundas (SEAP) development, following prior approval of the SEAP II module in late 2025. The projects are designed to unlock significant volumes of light oil and natural gas from deepwater fields offshore Brazil.

As part of the development, Petrobras is progressing contract negotiations for two floating production, storage and offloading (FPSO) units—P-81 and P-87—which will support SEAP I and SEAP II, respectively. SBM Offshore has been selected to build the units under a build-operate-transfer (BOT) model, aimed at accelerating project delivery while maintaining capital flexibility.

Combined, the two FPSOs are expected to have installed capacity of up to 240,000 bpd of oil and 22 million cubic meters per day of natural gas. First oil is targeted for 2030, with gas exports expected to begin in 2031.

The SEAP development represents a major investment, with total project spending exceeding 60 billion reais and expected recoverable volumes of more than 1 billion boe. Petrobras said ongoing collaboration with suppliers and contract optimization efforts helped improve project economics and support final approval.

In addition to the FPSOs, the project scope includes drilling and completion of 32 wells and installation of subsea infrastructure, along with a 134-km gas export pipeline linking offshore production to onshore facilities.

Petrobras operates the SEAP concessions with varying interests across multiple blocks, alongside partners including IBV Brasil Petróleo and ONGC Campos. The development is expected to play a central role in expanding Brazil’s domestic gas supply and strengthening national energy infrastructure.