Petrobras Signs Major EPCI Contract With Subsea 7 for Buzios 11

Core Insights - Petrobras has awarded an EPCI contract worth R$8.4 billion to Subsea 7 for the Búzios 11 Production Development Project, emphasizing its commitment to local content and offshore expansion in the Santos Basin [1][3][15] Group 1: Project Overview - The Búzios 11 Project is part of the development of the Búzios field, which is one of the largest deepwater oil discoveries globally, located in Brazil's pre-salt region [2] - The project will connect 15 wells to the P-83 FPSO unit, with eight wells as producers and seven as injectors to enhance recovery and efficiency [2] Group 2: Local Content and Economic Impact - Petrobras aims for a minimum local content requirement of 40%, with expectations to exceed 50%, integrating Brazilian suppliers into critical project stages [4][5] - The project is projected to create over a thousand direct and indirect jobs, contributing to regional economic development [5] Group 3: Subsea 7's Role - Subsea 7 will provide engineering design, procurement, construction, and installation services, utilizing advanced technologies for deepwater operations [6][7] - The collaboration is expected to set new benchmarks for project delivery and technical excellence in the region [7] Group 4: Consortium and International Collaboration - The Búzios 11 development is led by Petrobras, with partners including CNOOC, CNODC, and PPSA, highlighting international confidence in Brazil's deepwater resources [8][9] - This consortium enhances Brazil's geopolitical significance in the global energy landscape [9] Group 5: P-83 FPSO Unit - The P-83 FPSO unit will process up to 225,000 barrels of oil per day, reinforcing Brazil's position as a top-tier oil exporter [11] - The platform incorporates advanced automation and safety systems, ensuring operational safety and energy efficiency [12] Group 6: Long-Term Impact - The Búzios 11 project will drive innovation across the supply chain and deepen technical capabilities within Brazil's industries, with an investment of over R$8.4 billion [13] - Petrobras plans to implement environmental safeguards, aligning the project with global ESG standards, making it a model for future energy developments [14]