Subsea7 rakes in over $1.25 billion for Brazilian oil & gas job

April 10, 2026, by Melisa Cavcic

Luxembourg-domiciled Subsea7 has been tasked with work in the Santos Basin on a field development project, which is described as one of the largest pre‑salt expansion phases off the coast of Brazil.

FPSOs P-84 (Atapu) and P-85 (Sépia) will each have a daily production capacity of 225 thousand barrels of oil per day and processing of 10 million cubic meters of gas per day; Source: Petrobras

Petrobras has hired Subsea7 for an offshore assignment, worth more than $1.25 billion, following a competitive tender. As a result, the firm will work on the development of the Sépia 2 field located approximately 280 kilometers southeast of Rio de Janeiro, Brazil, at a water depth of 2,170 meters in the pre-salt Santos Basin.

Yann Cottart, Senior Vice-President Brazil and Global Projects Centre West, commented: “This award strengthens Subsea7’s portfolio of projects in Brazil and reinforces our established relationship with Petrobras in the pre-salt.

“Through strong local content, disciplined execution and close collaboration, we support projects of national importance with predictable delivery. We thank Petrobras for their continued trust and look forward to the successful delivery of the Sépia 2 project.”

The deal for Sépia 2, which is perceived to play a central role in Brazil’s energy development, entails engineering, procurement, fabrication, installation, and pre-commissioning of subsea umbilicals, risers, and flowlines (SURF) for 17 wells, including two wells from the Sépia 1 project, and one gas export line with 18 risers.

Subsea7 explains that project management and engineering will begin immediately at its offices in Rio de Janeiro, Paris, and Sutton, with offshore operations scheduled to be executed from 2029. The Sépia field has been producing since 2021 through the FPSO Carioca, with a production capacity of 180,000 bopd.

The second development phase, Sépia-2, will entail the FPSO P-85 with a 225,000 bopd capacity. The contract with Subsea7 comes months after SLB won a deal to provide services and technology for up to 35 ultra-deepwater wells, which are part of Petrobras’ second development of the Atapu and Sépia fields.

Seatrium picked up an $8.15-billion contract in 2024 for the field duo’s two ‘all-electric’ FPSOs, which are expected to cut the emissions footprint by 30% per barrel of oil produced once they come online in 2029, using electrically driven compressors and motors to produce 165 MW power generation capacity.