Brazil
Analysis

Snapshot: Petrobras’ biggest ongoing contracts

Bnamericas Published: Monday, November 14, 2022
Snapshot: Petrobras’ biggest ongoing contracts

Responsible for most of Brazil’s oil and gas exploration and production, Petrobras has a string of contracts worth over US$1bn in effect.  

The deals are mainly related to the chartering or construction of FPSOs, which is the most common offshore production system used by the state-run firm. 

BNamericas details Petrobras’ 15 largest contracts: 

1. Chartering of the Cidade dos Campos de Goytacazes (Tartaruga) FPSO

Value: US$5.16bn

Beginning: June 2018

End: June 2038

Supplier: Tartaruga MV29 B.V.

2. Chartering of the Pioneiro de Libra FPSO

Value: US$5bn

Beginning: May 2022

End: May 2044

Supplier: Libra MV 31 B.V.

3. Chartering of the Sépia FPSO

Value: US$4.95bn

Beginning: August 2021

End: August 2042

Supplier: Sepia MV30 B.V.

4. Sub-chartering contract of the Mangaratiba FPSO

Value: US$2.14bn 

Beginning: August 2014

End: August 2024

Supplier: Tupi B.V.

5. Specialized technical services

Value: US$2.1bn 

Beginning: February 2000

End: July 2025

Supplier: PetroRecôncavo

6. Unidentified FPSO contract 

Value: US$1.99bn

Beginning: July 2017

End: November 2029

Supplier: OOGTK Libra GMBH & Co. KG    

7. Chartering of the Etesco 8 drilling rig

Value: US$1.75bn 

Beginning: April 2012

End: April 2025

Supplier: Etesco Drilling Service, LLC

8. Chartering of the Cidade de Anchieta FPSO

Value: US$1.74bn

Beginning: April 2012

End: June 2030

Supplier: SBM Baleia Azul S.A.R.L.

9. Chartering of the Delba VII drilling rig

Value: US$1.28bn

Beginning: September 2012

End: January 2023

Supplier: ODN I GMBH

10. Chartering of the Capixaba FPSO

Value: US$1.25bn

Beginning: May 2006

End: March 2023

Supplier: SBM Espírito do Mar B.V.

11. Chartering of the Experience floating, storage, regasification unit (FSRU)

Value: US$1.22bn

Beginning: May 2014

End: May 2034 

Supplier: Excelerate Energy Brazil, LLC

12. Chartering of the Cidade de Niterói FPSO

Value: US$1.17bn

Beginning: February 2008

End: September 2024

Supplier: Opportunity MV18 B.V.

13. Chartering of the Golfinho FPSO

Value: US$1.11bn

Beginning: April 2012

End: June 2024

Supplier: Saipem S.P.A.

14. Electric power - demand

Value: 5.67bn reais (US$1.07bn)

Beginning: September 2010

End: December 2027

Supplier: Baixada Santista Energia S.A.

15. Chartering of the Cidade de Santos FPSO

Value: US$1.02bn

Beginning: December 2009

End: January 2024

Supplier: Gas Opportunity MV20 B.V.

Based on public Petrobras data, the above does not consider drilling rig chartering contracts signed with Sete Brasil, which were canceled or were renegotiated.   

Other highlights include the Búzios 8 engineering, procurement, construction and installation (EPCI) contract with Subsea 7 do Brasil Serviços worth 4bn reais (US$760mn), the operation services contract for the Marlim II FPSO (Yinson Boronia, 3.6bn reais) and the Búzios 6 EPCI (Saipem, 3.5bn reais).

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