Petrobras has approved the final investment decision for the SEAP I project in Brazil's Sergipe-Alagoas basin, advancing the broader Sergipe Águas Profundas development. This marks a key step in establishing a new offshore oil and gas frontier in the country's northeast, following prior approval of the SEAP II module.

Project Scope and Infrastructure

The development involves two floating production, storage and offloading units, P-81 and P-87, to support SEAP I and SEAP II respectively. SBM Offshore will build these under a build-operate-transfer model to accelerate delivery. The project scope also includes drilling 32 wells, installing subsea infrastructure, and a 134-km gas export pipeline to onshore facilities.

Production Capacity and Timeline

The two FPSOs are expected to have a combined installed capacity of up to 240,000 barrels per day 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.

Investment and Resources

This represents a major investment with total project spending exceeding 60 billion reais. The development is expected to unlock recoverable volumes of more than 1 billion barrels of oil equivalent of light oil and natural gas from deepwater fields.

Partnership and Strategic Importance

Petrobras operates the SEAP concessions with 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, with project economics improved through supplier collaboration and contract optimization.