Subsea 7 bags over $1.2bn contract with Petrobras for Búzios 9 field development
In a major offshore oilfield development, Subsea 7 S.A. has been awarded a super-major contract valued at over $1.25 billion by Petrobras. The contract, won through a competitive tender, entails the development of the Búzios 9 field, which is located about 180 kilometers offshore from the state of Rio de Janeiro, Brazil. The field is positioned in the pre-salt Santos basin at a water depth of 2,000 meters.
Extensive Scope of Work Outlined
The project’s scope involves engineering, procurement, fabrication, installation, and pre-commissioning of 102 kilometers of rigid risers and flowlines, forming part of the steel lazy wave production system. Project management and engineering efforts are set to commence immediately, with operations being coordinated from Subsea7’s offices in Rio de Janeiro and Paris. The fabrication of pipelines is planned at Subsea7’s spoolbase located in Ubu, Espirito Santo, Brazil. Offshore operations are scheduled for 2026 and 2027.
Strategic Significance and Expert Opinion
This contract marks a significant step for Subsea 7 in consolidating its portfolio of projects in Brazil, reinforcing its position as a trusted contractor for Petrobras. The project is crucial for enhancing Petrobras’ production capabilities in the pre-salt region, known for its challenging deepwater conditions but rich hydrocarbon reserves.
Yann Cottart, Vice-President of Brazil at Subsea7, emphasized the importance of this partnership: “This new award strengthens our diverse portfolio of projects in Brazil and affirms our position as a trusted contractor of Petrobras. Subsea7 looks forward to continuing this strong, collaborative relationship as we work together to successfully deliver the Búzios 9 project.”
Petrobras’ Commitment to Technological Advancement
In related developments, SLB (formerly Schlumberger) received three contracts from Petrobras last month for the provision of completion hardware and services for up to 35 subsea wells in the Buzios Wave II oilfield. The contract includes innovative technologies such as full bore electric interval control valves and electric subsurface safety valves, marking a move toward the electrification of production systems for enhanced reliability and control.
Industry and Economic Implications
The successful execution of the Búzios 9 project could set a precedent for future deepwater projects in Brazil and globally. By leveraging advanced technologies and collaborative project management, Subsea 7 and Petrobras are not only enhancing their strategic positions but are also contributing to the technological evolution of the offshore oil and gas industry.