Brazil - Búzios 8 - Petrobras 79 (P-79)

[Administrator]

Petrobras informs that it signed today a contract with the joint venture formed by Saipem and DSME in the amount of US$ 2.3 billion for the supply of P-79, the eighth unit to be installed in Búzios field, in the Santos Basin pre-salt area. With capacity to process 180,000 barrels of oil per day and 7.2 million cubic meters of gas per day, the platform is a FPSO type, a floating unit that produces, stores, and transfers oil. The delivery is scheduled for 2025.

The FPSO supply will result from the EPC (engineering, procurement, and construction) contracting modality and from Petrobras' strategy of developing new projects for its own platforms, incorporating the lessons learned from the FPSOs already installed in the pre-salt, including contracting and construction aspects. The contract foresees compliance with 25% of local content, a requirement stipulated in the call for tender and committed to by ANP for the Búzios field.

The project foresees the interconnection of 14 wells to the FPSO, 8 of which are producers and 6 injectors, through a subsea infrastructure composed of rigid production and injection pipelines and flexible service pipelines.

Búzios

The Búzios field, discovered in 2010, is the biggest deep-water oil field in the world. It is a world-class asset, with substantial reserves, low risk, and low lifting cost. It should reach the end of the decade with daily production above 2 million barrels of oil equivalent per day, becoming the Petrobras asset with the highest production.

Currently, there are four units operating in Búzios, which account for more than 20% of Petrobras' total production. The fifth, sixth, and seventh platforms planned for the field (FPSOs Almirante Barroso, Almirante Tamandaré, and P-78) are under construction, and the ninth unit (P-80) is under contracting process.

[Administrator]

Saipem, in JV with DSME, awarded a contract by Petrobras for a new FPSO in the Búzios offshore field in Brazil

San Donato Milanese (Italy), June 11, 2021 – Saipem, leading of a joint venture with Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), a main South Korean specialized shipbuilding and offshore contractor, has been awarded by Petróleo Brasileiro (Petrobras) a contract for the construction of the Floating Production Storage and Offloading Vessel (FPSO) named P-79 for the development of Búzios offshore field in Brazil.

The FPSO P-79 project is worth overall approximately 2.3 billion USD. Saipem's portion is approximately 1.3 billion USD.

The FPSO vessel will allow initial separation of gas from the oil extracted in the deep offshore reservoir and will have a production capacity of 180,000 barrels of oil per day (bopd) and 7.2 million cubic metres of (mcbm) gas per day, with a storage capacity of two million barrels of oil.

Saipem and DSME will execute the entire FPSO project which encompasses the engineering, procurement, fabrication and integration of the topsides of the FPSO units and the installation of the mooring systems, as well as the hookup, the commissioning and the start-up.

The Búzios field, the world's largest deepwater oil field, is located in the region of the pre-salt Santos Basin, approximately 200km off the coast of Rio de Janeiro at water depths ranging from 1,600m to 2,100m. Saipem is already present in the Búzios field where is executing a rigid subsea system installation contract.

Maurizio Coratella, Chief Operating Officer of the E&C Onshore Division, commented: "This project represents a key step forward in our portfolio diversification strategy. It is also a further demonstration of trust of our clients in our consolidated capability to manage complex, technologically advanced projects in compliance with the highest safety and environmental standards".

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is "One-Company" organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to consulting and engineering services in the project definition phase). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock Exchange, it is present in over 60 countries worldwide and has 32 thousand employees of 130 different nationalities.
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[Administrator]

GE Power Conversion to supply the Electrical Module for an FPSO vessel destined for one of the world's largest deep-water energy projects

GE's Electrical Module will be used on Petrobras' P-79 FPSO for the Búzios energy project off the coast of Brazil
The agreement between GE Power Conversion and Italian oilfield contractor Saipem reinforces GE's world-class technological and engineering capability

The contract award is based in part on the success of six similar modules from GE Power Conversion installed on other Petrobras FPSOs operating in the pre-salt area.

GE Power Conversion was chosen by Saipem, the multinational oilfield services company, to develop the Electrical Module for Petrobras' Floating Production Storage Offloading vessel (FPSO), coded P-79, which will be used for the production of oil and gas extraction. The module will be fabricated in Asia and delivered during 2023 to the integration shipyard in South Korea. The FPSO is scheduled to commence operations in the Búzios field within the Santos Basin in 2025. The field location, off the coast of the state of Rio de Janeiro, is considered the largest deep-water oilfield in the world.

The collaboration between GE Power Conversion and the Italian contractor Saipem to deliver the Electrical Module includes medium-voltage and low-voltage switchboards and motor control centers and high-power transformers for the P-79 vessel with a high degree of local content. The Electrical Module to be provided by GE Power Conversion is considered the heart of the platform as it provides all the distributed energy to power the entire FPSO, in addition to housing equipment that controls the vessel. The Electrical Module can be compared in size to a three or four-story building, weighing approximately 2,000 tons, 25 meters high, 22 meters wide and 33 meters long.

"GE Power Conversion has previously delivered Electrical Modules to six of Petrobras' owned and operated FPSOs operating in the pre-salt area including P-75 and P-77 in the Búzios field, with similar scope of supply to what will be provided for the P-79 FPSO. GE's proven track record in demonstrating technical expertise for the demanding operating profile of the FPSO has been a key success factor in securing this important contract." said André Ribeiro, Commercial Leader for the marine sector for GE Power Conversion in Latin America.

GE Power Conversion in Belo Horizonte in the state of Minas Gerais, Brazil, is responsible for Project Management, Engineering and Manufacturing of the electrical equipment for the Electrical Module which, in turn, will be assembled by Wasco Shipyard, Indonesia, and then placed on the FPSO at the Daewoo Shipbuilding & Marine Engineering Co. (DSME) Shipyard in South Korea. After the equipment has been assembled, installed, and commissioned, the FPSO will sail from South Asia to the Brazilian coast.

"A truly global effort, highlighting GE's commitment to its customers and its ability to produce equipment within Brazil, with a high level of local content and meeting all the requirements of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) for offshore installations" said Carlos Adriao Guimaraes, Sales Director for GE Power Conversion in Latin America.

[Administrator]

Subsea 7 awarded contract offshore Brazil

26 May 2022



Subsea 7 today announced the award of a major(1) contract by Petrobras for the development of the Búzios 8 field located approximately 180 kilometres off the coast of Rio de Janeiro at 2,000 metres water depth in the pre-salt Santos basin.

The contract scope includes engineering, procurement, fabrication, installation and pre-commissioning (EPCI) of approximately 126 kilometres of rigid risers and flowlines, 98 kilometres of flexible lines and 88 kilometres of umbilicals and associated infrastructure, as well as installation of FPSO mooring lines and hook-up.

Project management and engineering will commence immediately at Subsea 7's offices in Rio de Janeiro and Paris. Fabrication of the pipelines will take place at Subsea 7's spoolbase at Ubu, Brazil and offshore operations are scheduled to be executed in 2024 and 2025 using one of Subsea 7's fleet of rigid-reeled pipelay vessels.

Daniel Hiller, Vice-President Brazil said: "We are delighted to have been awarded this contract by Petrobras and we look forward to reinforcing our strong, collaborative relationship as we deliver Búzios 8."

(1) Subsea 7 defines a major contract as being over USD 750 million.

[Administrator]

TechnipFMC Awarded a Substantial Subsea Contract for Petrobras' Búzios 6-9 Fields

LONDON & HOUSTON--(BUSINESS WIRE)--Jun. 29, 2021-- TechnipFMC (NYSE: FTI) (PARIS: FTI) announced today that it has been awarded a substantial subsea contract worth between USD 2540 to 500 Million by Petrobras for the Búzios 6-9 fields. Located in the Santos basin offshore Brazil, these fields are part of the pre-salt area, with a water depth of 2,000 meters.

TechnipFMC will supply subsea trees with controls, electrical and hydraulic distribution units, topside systems, and installation and intervention support services with rental tooling. Delivery is expected to begin in the first quarter of 2023.

Jonathan Landes, President, Subsea, at TechnipFMC, commented, "The Búzios 6-9 fields are major developments in Brazil, and we are very honored to support Petrobras in this subsea project, which further strengthens our long-term partnership. This contract demonstrates TechnipFMC's unique ability to deliver comprehensive solutions that meet clients' needs and leverages our expertise in the pre-salt field.

"Sustainability will be at the core of our project delivery. All of the subsea trees will be manufactured at our facilities in Brazil, which are powered entirely from renewable energy sources.

"This contract arrives only weeks after achieving our recent milestone of manufacturing and delivering 700 trees in-country – a further testament to our long-term commitment in Brazil, where local content makes up over 97 percent of our workforce."

TechnipFMC's demonstrated history of project and technology delivery for Petrobras helped solidify the Lean manufacturing methodologies employed at its Rio Manufacturing Hub, improving safety and quality, while reducing waste and costs.

[Administrator]

The P-79 FPSO set sail on November 11, 2025, from Hanwha Ocean's shipyard in Geoje-Si, South Korea, bound for the Búzios field in the pre-salt Santos Basin.

The unit is being towed with its crew already on board — a strategy that helps accelerate the start of production. The FPSO is expected to arrive at the field in February 2026.

"Bringing the platform fully crewed, as we did with P-78, has proven to be an effective strategy to reduce the time to first oil. This is the eighth of twelve planned units for the Búzios field. We expect to bring first oil two months ahead of the schedule outlined in our Strategic Plan. This achievement reflects the dedication of the entire Petrobras team, supported by strong supplier negotiations, detailed planning, and, above all, disciplined execution," said Renata Baruzzi, Director of Engineering, Technology and Innovation at Petrobras.

Renata recently visited the Hanwha Ocean shipyard together with Sylvia Anjos, Petrobras' Director of Exploration and Production, to authorize the FPSO's departure to the Búzios field.

First oil for P-79 is currently scheduled for August 2026. With the addition of P-79 — and P-78, which is planned to begin production this December — Búzios' total installed production capacity will increase by approximately 15.6%, reaching around 1.3 million barrels per day.

Located in ultradeep waters of the Santos Basin (with depths reaching 2,100 meters) and 180 km off the coast of Rio de Janeiro state, the Búzios field currently has six FPSOs in operation: P-74, P-75, P-76, P-77, Almirante Barroso, and Almirante Tamandaré. In October, the field surpassed 1 million barrels of oil per day, becoming Petrobras' highest-producing asset.

The P-79 project consists of 14 wells — eight producers and six WAG injectors (water-alternating-gas). The hull was built at Hanwha Ocean in Geoje-Si, where integration and commissioning were carried out using topside modules constructed in China, Brazil, South Korea, and Indonesia.

[Administrator]

Petrobras brings forward start of production of Búzios 8 (P-79)

1 May 2026

The P-79 platform, located in the pre-salt layer of the Santos Basin, began production on 01/05, three months ahead of the date scheduled in the 2026–2030 Business Plan (PN 26–30) and a total of five months ahead compared to the previous year's plan (PN 25–29). The eighth platform in the Búzios field, with a capacity of 180 thousand barrels of oil and gas compression of 7.2 million m³ per day, the unit will increase the field's installed production capacity to approximately 1.33 million barrels of oil per day.

Measuring 345 meters in length and 180 meters in height (up to the top of the flare), P-79 arrived in Brazil in February, coming from South Korea, carrying the commissioning and operations teams on board. This strategy generated value by eliminating the need for a stop in sheltered waters in Brazil, in addition to gains in safety, reliability, and operational readiness due to the advancement of system commissioning during the transit. The project will allow gas to be exported to the mainland via connection with the Rota 3 gas pipeline, with the potential to expand gas supply in Brazil by up to 3 million m³ per day.

As of today, production will be gradually increased as the wells are connected to the platform, in line with the stabilization of the unit's systems.

According to Sylvia Anjos, Petrobras' Director of Exploration and Production, "each new unit brought into production demonstrates the company's commitment to the country's energy security. The way we do this reflects Petrobras' history, marked by operational excellence and overcoming limits."

"The early start-up of P-79 shows Petrobras' ability to plan and deliver complex projects, from engineering to operation, with a permanent focus on safety," says Petrobras' Director of Engineering, Technology and Innovation, Renata Baruzzi.

The P-79 platform, an FPSO-type unit (a platform that produces, stores, and offloads oil), is a hull with a new design equipped with technologies to reduce emissions and increase operational efficiency. The FPSO is part of the Búzios 8 Production Development project, which includes 14 wells, 8 producers and 6 injectors, equipped with intelligent completion systems that enhance production management. The unit will be connected through rigid pipelines for production, injection, and gas export, as well as flexible pipelines for service lines, enabling the high-capacity production planned for the field's wells.

The Búzios field is the largest in the country in terms of reserves and, last year, surpassed the mark of 1 million barrels per day. Discovered in 2010, it is located 180 km off the coast of the state of Rio de Janeiro, in ultra-deep waters of the Santos Basin, at depths greater than 2,000 meters. The FPSOs P-74, P-75, P-76, P-77, Almirante Barroso, Almirante Tamandaré, and P-78—which began operations in December 2025—are currently operating in the field. The FPSOs P-80, P-82, and P-83 are still under construction, and Búzios 12 is under bidding. In total, the Búzios field will comprise 12 FPSOs.

The Búzios consortium operating in the field is composed of Petrobras (operator), the Chinese partner companies CNOOC and CNODC, and PPSA, the company responsible for managing production-sharing contracts.