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SLB and Partners Boost Brazil's Energy with Major Contracts

10/1/2025

37 3 Full Breakdown

Summary

SLB Secures Petrobras Contract

SLB secures a Petrobras contract for 35 ultra-deepwater wells in Santos Basin, starting mid-2026, targeting Atapu and Sépia fields with electric completions.
Baker Hughes will supply up to 50 subsea tree systems for pre-salt fields, with procurement starting in Q3 2025. TechnipFMC also won a Petrobras subsea production-systems contract.
The deals aim to bolster Brazil's energy security and production efficiency.

Summary

Brazil Expands Oil Production

International Energy Agency (IEA) identifies Brazil as a non-OPEC producer, above 3.5 mb/d by July 2023, aiming for 5 mb/d by 2030.
Petrobras to invest $111 billion from 2025–2029, focusing on offshore projects and new drilling.
TotalEnergies targets 200,000 bpd by 2026; Shell remains a major player.
South Africa faces regulatory hurdles; Namibia advances exploration; Angola's Sonangol plans an IPO.

History

Historical Context

Brazil's energy landscape shifted dramatically after the discovery of pre-salt oil reserves in 2010, prompting significant investments in the sector. Petrobras, founded in 1953, aims to boost production efficiency to 5 million barrels per day by 2030, reflecting the country's ambition for energy independence and increased competitiveness in global markets.

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SLB Secures Petrobras Contract

SLB secures a Petrobras contract for 35 ultra-deepwater wells in Santos Basin, starting mid-2026, targeting Atapu and Sépia fields with electric completions.
Baker Hughes will supply up to 50 subsea tree systems for pre-salt fields, with procurement starting in Q3 2025. TechnipFMC also won a Petrobras subsea production-systems contract.
The deals aim to bolster Brazil's energy security and production efficiency.

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