SBM Offshore’s proposals were officially approved by Petrobras’ committee in the tender for the SEAP (Sergipe Águas Profundas) FPSOs. SBM submitted the lowest bids: US$ 4.1 billion for SEAP II and US$ 4.3 billion for SEAP I. Competing offers included Shapoorji (USD 4.3 b for SEAP II / USD 4.6 b for SEAP I) and MODEC (USD 5.2 b for SEAP II).
The contract will follow the BOT (Build-Operate-Transfer) model, with one firm FPSO for SEAP II and an option for a second FPSO for SEAP I. Each unit is designed for 120,000 bpd of oil and up to 12 million m³/day of gas, with full gas-export infrastructure. Petrobras expects to finalise commercial negotiation in early 2026 and aims for first oil around 2030.
