Petrobras $PETR3 (+0,95%)
$PETR4 (-0,25%) has taken a first step towards structuring a business partnership aimed at building a low-carbon hydrogen plant on a commercial scale in the Brazilian state of Paraná with the signing of a memorandum of understanding between Companhia Siderúrgica Nacional (CSN) and CSN Inova Soluções.

Low-carbon hydrogen can be used in industrial processes or as a fuel and is produced through the electrolysis of water from renewable electricity sources. The initiative aims to support the decarbonization efforts of CSN and Petrobras operations and products.

Petrobras did not specify which renewable energy sources will be used for the production of hydrogen.

The signing of this MoU is in line with Petrobras' Strategic Plan 2050 and Business Plan 2025-2029, which aim to prepare Petrobras for a fair energy transition, reduce its emissions and expand its range of more sustainable products.

The state-controlled oil giant Petrobras $PETR3 (+0,95%)
$PETR4 (-0,25%) has taken another important step to support its offshore activities, marking a significant development for the Brazilian oil industry. The company has entered into a partnership with Constellation Oil Services, a leader in offshore drilling. The collaboration centers on the deployment of Constellation's Amaralina Star drillship, which is expected to play a key role in the country's growing oil and gas sector.

PBR has awarded Constellation a three-year contract worth 528 million US dollars. This contract includes a mobilization fee of $39 million, as well as various integrated services that PBR has requested for its offshore drilling operations. The deployment of the Amaralina Star will be a key component of Petrobras' plans and operations are scheduled to begin in the first quarter of 2026.

Expansion of activities in key offshore areas

Amaralina Star will operate primarily in two of Brazil's most promising and prospective offshore areas, namely the Northern Equatorial Margin and the Southern Pelotas Basin. These areas are expected to play a crucial role in Petrobras' strategy to maintain its leadership position in global oil production. Petrobras places great emphasis on maximizing offshore exploration and continues to focus on these key regions to achieve its ambitious growth targets in the coming years.

Petrobras
$PETR3 (+0,95%)
$PETR4 (-0,25%) signs 2.8 billion dollar contract for 12 new vessels to supply offshore platforms

Brazilian state-owned oil company Petrobras announced that it has signed a contract worth 16.5 billion reals (2.8 billion US dollars) to build and charter 12 new vessels to supply its offshore platforms.

About 5.2 billion reais have been allocated for the construction of the vessels by Bram Offshore and Starnav Servicos Maritimos in Brazil's southern state of Santa Catarina, Petrobras said in a statement.

The investment is part of the modernization of Petrobras' fleet of support vessels under the company's strategic plan for the period 2025-2029.

The contracts provide for a period of up to four years for mobilization and 12 years for operation, in addition to the requirement of 40% local added value during the construction phase, Petrobras said.

Expro cooperates with Petrobras in the development of a new flow meter technology $PETR3 (+0,95%)
$PETR4 (-0,25%)

Expro, a leading provider of energy services, has signed a technology agreement (ETEC) with Petrobras for the development of a new non-intrusive flow meter.

The technology will provide flow rates and detect flow patterns, providing online and real-time data to control and monitor slug instabilities to increase efficiency and optimize well production.

The key requirement for this technology development is the non-intrusive aspect of the clamp-on design and the absence of a radioactive source. The first prototype is expected to be installed by Q3 2027.

Gregorio Rodrigues, Expro Vice President of Well Flow Management, commented on the agreement as follows: "We are delighted to partner with Petrobras to continue providing measurement solutions across Brazil. Expro is a pioneer in the development of Mobile Fiscal Metering packages and has successfully completed flow measurements in over 1,000 wells for a number of customers, including Petrobras. We strive to innovate consistently and purposefully, and this agreement is a testament to our commitment as a technology-driven company.

SBM Offshore N.V
$SBMO (-0,03%) considers bid for Petrobras
$PETR3 (+0,95%)
$PETR4 (-0,25%) Sergipe FPSO units

Dutch company SBM Offshore is considering participating in a tender by Brazil's Petrobras to build up to two oil platforms for the state oil company, Jonas Lobo, president of SBM in Brazil, told Reuters.

The tender for the construction of up to two FPSO (Floating Production Storage and Offloading) vessels is part of Petrobras' plans to develop an oil and gas field in the state of Sergipe in north-eastern Brazil.

"We are very interested in deepening the analysis," said Lobo.

The tender was launched by Petrobras last month after previous attempts to put the vessels into operation were unsuccessful. The Brazilian oil giant has made changes for the new tender that Lobo believes will lead to success.

"We will work together to achieve this," he said.

Petrobras expects the two platforms to have a capacity of 120,000 barrels of oil and up to 12 million cubic meters of gas per day.

In the strategic plan for the years 2025 to 2029 published in November, the company had postponed the commissioning of the two platforms until at least 2030. In the previous plan, the commissioning of both platforms was scheduled for 2028.

Petrobras awards integrated services contract for all offshore fields in Brazil $PETR3 (+0,95%)
$PETR4 (-0,25%)

Following a tendering process, the energy technology company SLB $SLB (+0,92%) has been awarded a new contract with Petrobras to provide integrated services for all its offshore fields in Brazil.

SLB will oversee the construction of more than 100 deepwater wells, utilizing advanced drilling, cementing and drilling fluid technologies on up to nine ultra-deepwater rigs.

Services will be provided primarily in the Campos, Santos and Espírito Santo basins, as well as other Petrobras-operated fields, including exploratory wells.

Work is also planned in the Equatorial Margin, subject to the approval of exploration licenses within the three-year contract period starting in April 2025.

"This contract builds on our previous work with Petrobras in all offshore basins and introduces new technologies that improve both operational and environmental efficiency," said Wallace Pescarini, President of the Offshore Atlantic Basin at SLB.

Technologies to be deployed under the contract include transitional technologies such as SLB's Ora intelligent wireline formation testing platform and SpectraSphere fluid mapping-while-drilling service.

The Ora platform enables real-time reservoir characterization, while SpectraSphere is used for pressure measurements, downhole fluid analysis and sampling while drilling.

Petrobras
$PETR3 (+0,95%)
$PETR4 (-0,25%) plans significant investment cuts for the decommissioning of oil and gas platforms

Brazil's state-owned oil company Petrobras has cut planned investments in the decommissioning of oil and gas platforms by USD 1.1 billion in its new strategic plan for the period 2025-2029, compared to what was envisaged in its plan for 2024-2028, the company announced.

Petrobras expects to invest USD 9.9 billion in the decommissioning of platforms by 2029, while more than USD 11 billion had previously been budgeted for the period 2024-2028.

The plan is now to decommission 10 floating platforms, down from 23 originally. Seven of the platforms are located in Brazil's Campos Basin, one in Santos and the other two in the Espirito Santo Basin.

The changes to the decommissioning plans were not included in the last strategic plan, which was published in November.

In a statement, the company cited "optimization of decommissioning activities" as the reason for the change, without elaborating.

In September, Petrobras CEO Magda Chambriard announced that the company plans to revitalize some of its decommissioned platforms, which could then be used for other projects.

At the time, Chambriard said that Petrobras had set up a working group to examine the revitalization of four platforms.

Petrobras
$PETR3 (+0,95%)
$PETR4 (-0,25%) and Ecopetrol develop the largest gas basin in Colombia

Petrobras and the Colombian company Ecopetrol $ECOPETROL have announced the largest gas discovery in Colombia's history with the Sirius-2 well, which has confirmed a gas volume of over 6 trillion cubic feet (Tcf).

The consortium will invest USD 1.2 billion in the exploration phase and USD 2.9 billion in the production development phase. These amounts are already included in Petrobras' business plan until 2029, which was recently published. The four wells in the area are expected to produce around 13 million cubic meters per day over a decade.

According to Petrobras, this discovery could increase Colombia's current reserves by 200%. The well was started on June 19 and is located in an offshore block 77 kilometers from Santa Marta in northern Colombia at a water depth of 830 meters.

The company expects to start producing natural gas three years after obtaining all environmental permits and confirming the economic viability of the discovery, which is expected in 2027.

The consortium, consisting of Petrobras Colombia as operator with a 44.44% interest and Ecopetrol with a 55.56% interest, will begin gathering the essential data for the installation of the pipeline and transportation of the natural gas from the field to the onshore gas processing plant, as well as the installation of the subsea production facilities.

Petrobras $PETR3 (+0,95%)
$PETR4 (-0,25%) launches tender for vessels on the Sergipe deep-sea project

The Brazilian state oil company Petrobras has submitted a bid for up to two offshore oil production vessels for its deep-sea project SEAP in the state of Sergipe, as announced in a securities report.

The floating production, storage and offloading (FPSO) units will be contracted under the build, operate and transfer (BOT) model, in which the contracted company designs, builds and operates the unit for a period of time before handing it over to Petrobras.

The Brazilian oil giant announced that it has submitted bids for a firm FPSO for the SEAP-2 project, which is expected to come on stream in 2030, as well as an option to purchase a second unit for the SEAP-1 project.

According to Petrobras, each platform could process 120,000 barrels of oil and up to 12 million cubic meters of natural gas per day.

A Petrobras executive had already stated earlier this month that the company was planning to put the new project into operation by the end of 2024.

Petrobras
$PETR3 (+0,95%)
$PETR4 (-0,25%) built e-methanol plant in partnership with the Danish company European Energy S/A

Brazil's Petrobras has signed a commercial partnership agreement with the Danish company European Energy S/A to build an e-methanol plant in the state of Pernambuco in Brazil.

E-methanol is a low-carbon solution that can be used in industrial processes or as a fuel, especially in maritime transportation. It is produced by combining low-carbon hydrogen, obtained by electrolyzing water with renewable energy sources such as solar and wind, with biogenic carbon dioxide.

"The creation of commercial alliances helps to reduce risk, strengthen corporate governance and share information, experience and technology," says Petrobras.

European Energy S/A is a Danish company that develops, builds and operates renewable energy plants, including solar and wind energy projects and solutions based on green hydrogen. The company is represented in several countries, has plants in operation and projects under development in Brazil and is one of the pioneers in commercial e-methanol plants worldwide.