Sergipe Deepwater Project Has Development Plan Approved by ANP

Jan. 28 (TN) The Government of Sergipe, through the State Secretariat for Economic Development and Science and Technology (Sedetec), continues to closely monitor the progress of the ‘Sergipe Deepwater’ project (Seap), after the National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved the development plan for deepwater fields in the state. The decision was made at the Agency’s board meeting, held on Monday, the 26th, after a review of the plan presented by Petrobras.

With the approval, the ANP authorized the extension of the concession contracts for the areas before the start of production, with the aim of providing greater security to the undertaking. In the first module (Seap1), the term is extended until the end of 2055, while in Seap 2 the concession extends until December 2057. Initially, both contracts were scheduled to end in 2048. The measure seeks to ensure a productive horizon of approximately 25 years, compatible with the lifespan of the platforms and the gas pipeline.

Following the extension of the contracts, the ANP estimates an additional gain of US$ 1.4 billion in government royalties and taxes, and a 14.5% increase in oil and gas recovery. During the analysis, the regulatory body also determined the unification of the Agulhinha and Cavala fields into a single area, as well as the Palombeta and Budião Sudeste fields. Petrobras will have up to 60 days to resubmit updated plans, considering the new delimitation.

“The approval of the plan and the extension of the concession contracts represent an important step towards providing greater security to the project. The decisions adopted by the ANP show that the Seap project remains a highly relevant initiative for the energy sector, so efforts continue to ensure its durability and development conditions,” stated the Secretary of Sedetec, Valmor Barbosa.

About the project

The two platforms that will operate in the Seap project will each have a production capacity of up to 120,000 barrels of oil per day and 12 million cubic meters of natural gas daily. Petrobras announced an investment decision in favor of SBM Offshore for the construction and operation of the platforms, and maintained its 2030 start date for operations in its strategic plan.