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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