SLB Secures Major Contract with Petrobras for Offshore Projects

SLB Awarded Integrated Services Contract with Petrobras

Houston-based energy technology leader SLB (NYSE: SLB) recently announced an important new contract with Petrobras (NYSE: PBR) that signifies a major step in offshore energy operations in Brazil. Following a competitive tender process, SLB will provide integrated services that span all offshore fields operated by Petrobras. This includes overseeing the construction of over 100 deepwater wells while implementing innovative drilling, cementing, and drilling fluids technologies across up to nine ultra-deepwater rigs.

Scope of Services and Future Operations

SLB's services will be concentrated primarily in the Campos, Santos, and Espírito Santo Basins, as well as other fields that Petrobras operates, including exploratory wells. Furthermore, operations aiming to explore the Equatorial Margin are anticipated pending the required exploration license approvals, which fall within the three-year contract period expected to commence in April 2025. A significant aspect of this contract is the commitment to source much of the necessary technology and equipment locally, supporting the regional economy.

Strengthening Partnerships for Continued Innovation

Wallace Pescarini, president of the Offshore Atlantic basin at SLB, expressed optimism about this contract, highlighting the longstanding partnership SLB has maintained with Petrobras. According to Pescarini, "This contract builds on our existing work with Petrobras across its offshore basins and introduces new technologies that enhance both operational and environmental efficiency." This contract exemplifies SLB's focus on advancing local content in Brazil while reaffirming its extensive operational reach across the country.

Investment and Technological Advancements

Wllisses Menezes Afonso, executive manager of Wells at Petrobras, announced an approximate investment of $800 million aimed at intensifying activities across multiple basins. Afonso stated, "This investment will help us revitalize productive fields and explore new areas using innovative technologies, ultimately enhancing safety and efficiency in our operations."

Technologies Enhancing Operational Efficiency

Under this contract, SLB plans to deploy cutting-edge technologies including transition technologies such as SLB’s Ora™ intelligent wireline formation testing platform and the SpectraSphere™ fluid mapping-while-drilling service. The Ora platform is designed for real-time reservoir characterization, significantly minimizing risks while maximizing productivity and reducing emissions. Additionally, the SpectraSphere service will provide accurate pressure measurements and downhole fluid analysis, facilitating improved steering decisions and optimized productivity throughout drilling operations.

About SLB

SLB (NYSE: SLB) stands as a prominent global technology company dedicated to energy innovation, contributing to a balanced planet. With operations in over 100 countries and a workforce from nearly double that number of nationalities, SLB consistently works towards innovating within the oil and gas sector. Their initiatives focus on delivering digital solutions at scale, decarbonizing industries, and developing new energy systems to aid the transition to sustainable energy sources. For more information, visit slb.com.

Frequently Asked Questions

What services will SLB provide to Petrobras?

SLB will provide integrated services for the construction of over 100 deepwater wells, utilizing advanced technologies in drilling and cementing.

What is the total investment amount for this contract?

The investment for this contract is approximately $800 million, focusing on enhancing activities across several basins.

Which technologies will be utilized under this contract?

SLB plans to use the Ora™ intelligent wireline formation testing platform and the SpectraSphere™ fluid mapping service, among others.

What is the duration of the contract with Petrobras?

The contract spans three years, beginning in April 2025, with the possibility of exploring the Equatorial Margin if licenses are obtained.

How does this contract support local economies?

SLB aims to source much of the technology and equipment locally, which not only boosts the local economy but also aligns with their commitment to local content development.

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