Petrobras Approves Final Investment Decision for the Development of the Sergipe Deepwater Project Module 2

Dec. 19 – Petrobras has approved the final investment decision for the development of the Sergipe Deepwater Project Module 2 (SEAP II), in the Sergipe-Alagoas Basin. The project is strategic for expanding the availability of domestic gas, as well as opening a new production frontier in the Northeast region.

The SEAP II project encompasses deposits with light oil, considered to be of good quality, between 38 and 41 degrees API, belonging to the Budião, Budião Northwest, and Budião Southeast fields, located approximately 80 km from the coast in the BM-SEAL-4, BM-SEAL-4A, and BM-SEAL-10 concessions, respectively. Petrobras operates the BM-SEAL-4 concession – with a 75% stake in partnership with ONGC Campos Limitada (25%) – and BM-SEAL-4A and BM-SEAL-10, where it holds a 100% stake.

For the development of the project, an FPSO (Floating, Production, Storage and Offloading) is being contracted under the BOT (“Build, Operate and Transfer”) model, with a capacity of 120,000 barrels of oil per day (bpd) and 12 million m³ per day, with negotiations expected to conclude in the first half of 2026, enabling first oil production from the project in 2030, as foreseen in the 2026-2030 Business Plan.

Sergipe Deepwaters
In addition to the SEAP II project, the company has the SEAP I project, which covers the deposits belonging to the Agulhinha, Agulhinha Oeste, Cavala and Palombeta fields, located in the BM-SEAL-10 and BM-SEAL-11 concessions. Petrobras operates the BM-SEAL-11 concession – with a 60% stake, in partnership with IBV Brasil Petróleo LTDA (40%) – and BM-SEAL-10, where it holds a 100% stake.

New Investment Front
With a substantial volume of gas, considering the potential to offer up to 18 million m³ of gas per day, the projects open a new investment horizon, bringing a series of opportunities for the sector and for the states of Sergipe and Alagoas. Furthermore, it will enable a new technological milestone in the country: the implementation of a deep-water production project above 2,500 meters (reaching up to 3,000 meters), incorporating state-of-the-art innovations.