Summary by Futu AI
On November 29, 2024, Petrobras announced the initiation of a procurement process for up to two FPSO units for the Sergipe Deep Waters Project in the Sergipe-Alagoas Basin. The procurement will follow a Build-Operate-Transfer (BOT) model, with the contractor responsible for design, construction, and operation before transferring to Petrobras. The firm unit, SEAP 2, is expected to start operations in 2030, processing 120,000 bpd of oil and 12 million cubic meters of gas daily.This strategy aims to explore new FPSO procurement models, providing financing solutions and accelerating project production. The SEAP 1 and SEAP 2 projects cover various fields in the BM-SEAL concessions, with Petrobras holding significant stakes. These projects are crucial for increasing domestic gas availability and opening a new production frontier in Northeast Brazil.