First ANP Meeting in 2026 Could Unlock Crucial Step for Sergipe Deepwater Project

Jan. 23 (eixos) The first ANP board meeting of 2026, scheduled for January 26th, has on its agenda the evaluation of the development plan for the Sergipe Deepwater project presented by Petrobras.

Approval of the plan is one of the final steps to unlock one of the largest natural gas production projects planned for Brazil in the coming years.

This is a second attempt to approve the plan, after the first version was rejected by the ANP in December 2024.

At the time, the agency complained about the lack of information on the platforms, whose parameters were revised after Petrobras failed to contract them.

It also pointed out that more information was needed on the projected development of already identified reservoirs. See the decision (.pdf).

Petrobras resubmitted the plan in 2025, which will now be evaluated by the agency.

The state-owned company is facing difficulties in the bidding process for the two platforms planned for the region, which have been under contract since 2021. (See: A new chance for the Sergipe platforms.)

The low competitiveness of the proposals in the first contracting attempt led the company to reformulate the projects and return to the market with a new contract model, the build, operate and transfer (BOT).

Each FPSO will have the capacity to produce 120,000 barrels/day of oil and 12 million m³/day of natural gas.

At the end of last year, the company managed to enter the negotiation phase with SBM Offshore, which reduced uncertainties about the projects. The expectation is to conclude this phase in the first half of 2026.

In December, Petrobras announced the final investment decision for SEAP 2, which will be the first platform to enter operation.

Production is scheduled to begin in 2030, after being postponed several times.

The other platform does not yet have a clear forecast for its entry into operation. At best, the two will be built sequentially to reduce costs.

Sergipe is the country’s main new gas production frontier, with an 18 million m³/d gas pipeline, which should come into operation along with SEAP 2.

The gas will be exported directly for sale, without the need for additional treatment on land.

It is the only investment operated by Petrobras that foresees the construction of a new offshore route. The state-owned company is a partner of Equinor in Raia, scheduled for 2028.