Petrobras, SBM Discuss Two FPSO Vessels for Sergipe Deepwater Projects

Brazil's state-run oil firm Petrobras is in negotiations with SBM Offshore over two floating production vessels to be commissioned for its Sergipe deepwater projects, Petrobras head of Exploration and Production said on Wednesday.

Petrobras hopes to lower costs and speed up delivery of the two vessels, Sylvia Anjos said on the sidelines of the OTC conference in Rio de Janeiro, hoping negotiations would allow the first vessel to be delivered in 2029.

SBM offered the lowest prices during a bidding process, said Anjos, but still above what the state-run oil firm had planned for. Having SBM build the two ships would help with optimization, lowering their cost, she added.

The tender, to build up to two Floating Production Storage and Offloading (FPSO) vessels, is part of Petrobras' plans to develop an oil and gas field in the Sergipe state in northeast Brazil, but the projects have been repeatedly delayed.

Most recently the company postponed the start of operations for the two platforms until at least 2030 in its strategic plan for the 2025 to 2029 period. In the previous plan,