Petrobras to present development plan for Sergipe Deep Waters by the end of April

(eixos) Petrobras is expected to present the development plan for the ultra-deep water project to produce oil and gas in Sergipe, the Sergipe Deep Waters (Seap), by the end of April, said the state-owned company’s executive manager for Gas and Energy, Álvaro Tupiassu, during a meeting of the Oil and Gas Technical Chamber (CTGás) of the Brazilian Association of Regulatory Agencies (Abar).

The state of Sergipe is considered the main new frontier for gas production in the country and the exploration could mark the arrival of deep water gas to the northeast. The project foresees the export of up to 18 million m³/d of natural gas from the construction of a gas pipeline to the coast, in addition to the production of 240 thousand barrels/day of oil, through two floating platforms (FPSOs).

In December of last year, the National Agency of Petroleum, Natural Gas and Biofuels (ANP) rejected the first development plan presented by the state-owned company. The main issue was the lack of information about the FPSOs, which have not yet been put out to tender.

Other reasons that led the ANP to reject the development plan include violation of legal provisions regarding the demarcation of borders and fields, projects with a scope that is too immature to be evaluated, and volumes of oil and gas classified as contingent resources, that is, not economically viable.

Petrobras has been trying to contract the two platforms for three years. After extending the deadline three times, without success, in 2024, the company withdrew from the tender and set up a working group to prepare a new tender.