SBM Offshore — one of the key companies supporting Guyana’s booming offshore oil industry — has secured two major contracts from Brazilian oil giant Petrobras to design, build and operate floating production vessels for offshore developments in Brazil.
The contracts cover the FPSO SEAP-I and FPSO SEAP-II projects in Brazil’s Sergipe-Alagoas basin, marking another major expansion of SBM Offshore’s global footprint as the company continues playing a central role in Guyana’s rapidly growing oil production sector.
SBM Offshore is already heavily involved in Guyana through the construction and operation of several Floating Production, Storage and Offloading vessels, or FPSOs, supporting ExxonMobil’s offshore developments in the Stabroek Block.
Under the new agreements, Petrobras-led consortiums will own the FPSOs while SBM Offshore will operate the vessels under separate operations and maintenance contracts for an initial period of six-and-a-half years.
Both vessels will be based on SBM Offshore’s Fast4Ward programme and are expected to significantly boost oil and gas production offshore Brazil.
The SEAP-II FPSO, also called P-87, is being designed to produce up to 120,000 barrels of oil per day, with gas treatment capacity of 425 million standard cubic feet per day. Delivery is expected in 2030.
Meanwhile, the SEAP-I FPSO, or P-81, will also produce 120,000 barrels of oil daily and is expected to begin operations in 2031.
In a notable development, both FPSOs will include infrastructure allowing natural gas produced offshore to be sent directly to shore through export pipelines — a move aimed at reducing gas flaring while increasing domestic gas availability in Brazil.
SBM Offshore Chief Executive Officer Øivind Tangen described the contracts as a major vote of confidence from Petrobras and highlighted the company’s expertise in advanced offshore gas treatment systems.
For Guyana, the announcement reinforces the growing global demand for FPSO technology and offshore expertise as the country continues positioning itself among the world’s fastest-growing oil producers.
With multiple FPSOs already operating offshore Guyana and additional projects in development, SBM Offshore remains one of the most influential companies in the country’s oil and gas expansion.
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