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Brazil's Petrobras awards $800 mln contract to SLB for services in offshore fields
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Brazil's Petrobras awards $800 mln contract to SLB for services in offshore fields
Dec 11, 2024 10:58 AM

RIO DE JANEIRO, Dec 11 (Reuters) - Brazil's Petrobras

has awarded an $800 million contract to major

oilfield services provider SLB for integrated services

across all offshore fields operated by the state-run oil firm in

the country, said SLB on Wednesday.

SLB will oversee the construction of more than 100 deepwater

wells, the firm said in a statement, as part of Petrobras' plans

to revitalize already productive fields and explore new areas.

The three-year contract, set to start in April, will see the

firm providing services mainly in the Campos, Santos, and

Espirito Santo basins, said SLB.

Operations in Brazil's so-called Equatorial Margin are also

planned, said SLB, if Petrobras obtains a long-sought license to

explore there during the contract period.

Petrobras has recently increased the amount it plans to

invest in exploration and production as it seeks to replenish

its reserves, with its strategic plan for the 2025-2029 period

earmarking $77 billion for E&P activities.

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