Brazil's Petrobras Prepares to Develop Sergipe-Alagoas Basin

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Petrobras (NYSE:PBR) (Rio de Janeiro, Brazil) announced this month the contracting process for chartering two floating production storage and offloading (FPSO) platforms destined for the offshore Sergipe-Alagoas Basin.

Each platform will have a capacity of 120,000 barrels of oil per day (BBL/d) and the combined ability to offer up to 18 million cubic meters of gas per day. The platforms are expected to come online in 2027. The oil and gas major aims to expand its production and open a new production frontier offshore Sergipe as Petrobras becomes a more prominent international energy player.

The Sergipe Deepwater Project (SEAP), where the FPSOs will operate, is around 100 kilometers off the coast of Sergipe. The basin is rich in light crude with an American Petroleum Institute (API) gravity between 38 and 41 degrees.

The Sergipe-Alagoas basin contains seven deepwater fields deemed commercially available in December 2021. Four of the fields are part of the SEAP I project, while the remaining three comprise SEAP II. Petrobras has majority stakes in both of the projects. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Database can click here for SEAP I and SEAP II project reports.

"The Sergipe deepwater project stands out for its expressive reserves, with the potential to boost the supply of natural gas in the country and reduce our dependence on imports of this input", said Petrobras Chief Executive Officer Jean Paul Prates. "Another advantage is that gas is the crucial fuel for the energy transition. Not only for its versatility of application--as an energy source for the most diverse industries--and predictability of delivery, but mainly for its efficiency in emissions," he added.

Petrobras is expected to bring online 17 new FPSOs between 2023 and 2027 across the country, including the two destined for the Sergipe Deepwater project. Out of those, 13 of them are currently under implementation, while SEAP I, SEAP II, and the Revit Albacora platform are in the procurement phase. Subscribers can click here for the Revit Albacora project reports.

By expanding downstream infrastructure, Petrobras expects to increase its oil production by 400,000 BBL/d between 2023 and 2027 to reach an oil output of 2.5 million BBL/d. Including commercial and non-commercial natural gas, Petrobras is projecting an output of 3.1 million barrels of oil equivalent per day by 2027, with pre-salt volumes accounting for 78% of all flows.

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