Petróleo Brasileiro SA (Petrobras) approved the final investment decision for development of the Sergipe Deepwater Project module 2 (SEAP II) in Sergipe-Alagoas basin offshore Brazil.
SEAP II covers reservoirs in Budião, Budião Northwest, and Budião Southeast fields about 80 km off the coast in the BM-SEAL-4, BM-SEAL-4A, and BM-SEAL-10 concessions, respectively. Oil is light and of good quality between 38–41° API gravity.
For project development, a floating, production, storage, and offloading (FPSO) unit, under the build, operate, and transfer (BOT) model, is being contracted with a capacity of 120,000 bo/d and 12 million cu m/d. First oil is expected in 2030.
Besides the SEAP II project, the company has the SEAP I project which covers Agulhinha, Agulhinha Oeste, Cavala, and Palombeta fields in the BM-SEAL-10 and BM-SEAL-11 concessions. A second FPSO will be used for SEAP I.
In SEAP II, Petrobras is the operator of the BM-SEAL-4 concessions (75%) with partner ONGC Campos Ltda. (25%). Petrobras operates and holds 100% ownership of BM-SEAL-4A and BM-SEAL-10.
In SEAP I, Petrobras is the operator (60%) of BM-SEAL-11 with partner IBV Brasil Petróleo Ltda. (40%). Petrobras is operator and owns 100% of BM-SEAL-10.
