Earlier this year, a senior company executive told Reuters Petrobras was looking to buy interest in African oil fields to boost its reserves and was in talks with potential sellers, including Exxon, Shell, and TotalEnergies. Petrobras’s proven oil and gas reserves increased by 500 million barrels last year, from 10.9 billion barrels to 11.4 billion barrels.
TechnipFMC’s eSolutions platform supports field simplification by using standard system components with a track record of reliability. The company’s configure-to-order approach is said to enable standardization across subsea developments, with key parts of the electrical safety system including the 800-series controls and electric actuators.
Petrobras, Exxon Mobil Corp. and Chevron Corp. have won exploration rights in Brazil’s Equatorial Margin, betting that the nation’s environmental regulator will finally open the promising offshore oil region for drilling after years of delay.
Geospace Technologies Corporation have secured a Permanent Reservoir Monitoring contract award for Mero Fields 3 and 4 from Petrobras, operator of the Mero field Consortium. The contract encompasses the supply and installation of nearly 500km of the OptoSeis® Permanent Reservoir Monitoring (PRM) system covering 140 sq km of seabed area of Mero, located deep offshore in the Santos Basin, 180 kilometers off the coast of Rio de Janeiro, Brazil.
Earlier this month, Petrobras reported a net profit of BRL 35 billion ($6 billion) for the first quarter. The company achieved adjusted earnings before interest, taxes, depreciation, and amortization of BRL 61 billion ($10.5 billion) and an operating cash flow of BRL 49.3 billion ($8.5 billion).
DOF Group ASA has secured four long-term charter and service contract awards with Petrobras in Brazil following a competitive tender process.
Skandi Iguaçu, one of the biggest AHTS vessels ever built in Brazil with a 350mt+ bollard pull (BP) and large winch storage capacity has been contracted for four years with expected commencement in February 2026 in sequence with its current contract.
“Petrobras is no longer active in Nigeria, but they are very keen on coming back to Nigeria. They said they want frontier acreage in deep waters,” Nigeria’s foreign minister said, as quoted by Reuters. The publication recalls that Brazil used to operate in the deepwater sector of Nigeria’s continental shelf some 30 years ago but a decade ago it sold its operations there to raise cash for growth at home.
Petrobras is sticking with its plans to expand oil production, along with other international oil majors including Exxon Mobil Corp., Chevron Corp. and Shell Plc, despite a decline in crude prices during April and a decision by OPEC+ to crank up output in June. Unlike US shale operators who need more than $60 a barrel to cover costs, Petrobras’s breakeven price is $28 a barrel.
Subsea7 has won a competitive tender and secured a “super-major” contract from Petrobras for the development of the Buzios 11 offshore field in Brazil, Subsea7 announced on Friday.
Under the terms of the engagement, Subsea7 will provide engineering, procurement, fabrication, installation and pre-commissioning of 112 kilometres of rigid risers and flowlines. The value of the business was not disclosed, but Subsea7 defines “super-major” contracts as being worth more than USD 1.25 billion.
Petrobras attributed the overall quarterly increase in oil and gas production to lower losses resulting from maintenance-related suspensions of operations, improved efficiency at fields in the Santos Basin, the addition of a new floating production, storage, and offloading vessel at the Buzios field, and the ramp up at another FPSO at the Mero field.