Subsea7 awarded contract for Petrobras' Sepia II oilfield worth over $1.25 billion

Subsea7 successfully won a contract from Petrobras through a competitive bidding process to participate in the development of the Sépia 2 oilfield. The oilfield is located in the pre-salt layer of the Santos Basin, approximately 280 kilometers southeast of Rio de Janeiro, at a water depth of 2,170 meters.

The Sépia 2 oilfield is located in the pre-salt layer of the Santos Basin in Brazil, approximately 280 kilometers southeast of Rio de Janeiro, with an operating water depth of 2,170 meters. The contract scope includes the installation of subsea facilities for 17 wells, including two wells from the Sépia 1 project, as well as a natural gas export pipeline equipped with 18 risers.

Valued at over $1.25 billion, the contract covers the engineering, procurement, manufacturing, installation, and pre-commissioning of subsea umbilicals, risers, and flowlines for 17 wells. This includes two wells from the Sépia 1 project and a natural gas export pipeline with 18 risers. The development of the Sépia 2 field will further advance Brazil's offshore energy projects, and Subsea7's involvement is expected to enhance project execution efficiency.

The Sépia 2 field is one of the key development projects in Brazil's pre-salt region. Petrobras continues to commercialize the pre-salt reserves in the Santos Basin. The Sépia 1 project has already entered the production phase, and the start of the Sépia 2 project will expand oil and gas production capacity in the region.

Subsea7 has an uninterrupted operational record in Brazil for over 35 years and has previously executed several pre-salt development contracts for Petrobras. This contract will be included in the company's backlog as of March 31, 2026.

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