Spotlight: Petrobras’ largest contracts

Brazil’s national oil company Petrobras recently launched its new business plan, which calls for investments of US$102bn during 2024-28.

These investments will offer ample business opportunities for local and international suppliers of goods and services. 

Most of the contracts will be for the exploration and production segment, which will receive 71.5% of the five-year total.

Today, Petrobras’ largest contracts involve the chartering of FPSOs and a technical services contract with local onshore operator PetroRecôncavo. 

Contract	Value	Service/goods supplier
Chartering BÚZIOS 5 FPSO	US$5.7bn	BUZIOS5 MV32 B.V.
Chartering Sépia FPSO	US$5.36bn	SEPIA MV30 B.V.
Chartering Campos dos Goytacazes FPSO	US$5.19bn	TARTARUGA MV29 B.V
Chartering Pioneiro de Libra FPSO	US$5.1bn	LIBRA MV 31 B.V.
Chartering Marlim I FPSO	US$5.09bn	MARLIM1 MV33 B.V.
Chartering Sepetiba FPSO	US$4.93bn	MERO 2 B.V.
Chartering Marlim II FPSO	US$4.905bn	YINSON BORONIA B.V.
Sub-chartering Cidade de Mangaratiba FPSO	US$2.14bn	TUPI B.V.
Specialized technical services	US$2.10bn	PETRORECONCAVO S/A
Chartering Pioneiro de Libra FPSO	US$2.02bn	OOGTK LIBRA GMBH & CO KG

Source: BNamericas based on Petrobras data

Looking at local-currency contracts, the largest is for leasing areas in the port of Santos, in São Paulo state. 

Contract	Value	Service/goods supplier
Leasing of areas in the Santos Port	R$8.5bn	AUTORIDADE PORTUARIA DE SANTOS S.A.
Electric power - Demand	R$5.7bn	BAIXADA SANTISTA ENERGIA SA
Catalyst for fluid catalytic cracking unit	R$4.8bn	FABRICA CARIOCA DE CATALISADORES
Operation services for chartered FPSO	R$4.3bn	MODEC
Búzios 8 EPCI services	R$4bn	SUBSEA7 DO BRASIL SERVICOS LTDA
Operation services Marlim II FPSO	R$3.6bn	YINSON
Operation services Marlim I FPSO	R$3.51bn	MODEC
Operation services Sepetiba FPSO	R$3.5bn	MERO 2 OPERACOES MARITIMAS
Engineering design and other services Búzios 6 project	R$3.46bn	TECHNIP BRASIL - ENGENHARIA
Operation services Pioneiro de Libra FPSO	R$3.45bn	MODEC

Source: BNamericas based on Petrobras data

Editor’s note 1: Contracts involving FPSOs are usually split between different companies due to tax reasons. 

Editor’s note 2: BNamericas excluded the contracts for the chartering of drilling rigs signed with Sete Brasil, which have been suspended or canceled.