Subsea7 has secured a supermajor contract from Petrobras for the Sépia 2 field development in Brazil's Santos Basin. The scope covers SURF services for 17 wells and a gas export line, with offshore operations set to begin in 2029.
Following a competitive tender, Subsea7 has announced a supermajor contract award from Petrobras for the Sépia 2 field development. Located approximately 280 kilometers southeast of Rio de Janeiro at a water depth of 2,170 meters in the pre-salt Santos Basin, Sépia 2 is among the largest pre-salt expansion phases.
The contract encompasses engineering, procurement, fabrication, installation, and pre-commissioning of subsea umbilicals, risers, and flowlines (SURF) for 17 wells, including two from the Sépia 1 project plus one gas export line with 18 risers. Project management and engineering will begin immediately at Subsea7’s offices in Rio de Janeiro, Paris, and Sutton.
This development matters because the pre-salt basin accounts for a significant share of Brazil’s crude output, and Sépia 2 reinforces long-term offshore investment.
For subsea equipment suppliers, fabrication yards, and marine logistics providers, the contract signals sustained activity into the next decade. Investors should note that supermajor contracts typically carry high value and multi-year execution timelines, enhancing revenue visibility for Subsea7.
The project also highlights Petrobras’ continued commitment to pre-salt expansion despite global energy transition pressures.
Subsea7 is a Luxembourg-headquartered seabed-to-surface engineering and construction contractor specializing in offshore energy.
Petrobras is Brazil's state-controlled oil and gas giant.
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