Subsea7 Secures Supermajor Contract for Brazil’s Sépia 2 Offshore Field from Petrobras

April 10, 2026 — Subsea7 has been awarded a ‘supermajor’ contract by Petrobras for the development of the Sépia 2 field in the Santos Basin, approximately 280km south-east of Rio de Janeiro, Brazil, at a water depth of 2,170m, according to GlobalData, a leading business intelligence firm.

The contract, which follows a competitive tender process, encompasses the engineering, procurement, fabrication, installation and pre-commissioning of subsea umbilicals, risers and flowlines (SURF) for 17 wells. This scope includes two wells from the existing Sépia 1 project and one gas export line equipped with 18 risers.

As a key part of Brazil’s pre-salt resource base expansion — a central focus for offshore investment in the region — the Sépia 2 project is expected to boost the country’s deep-water oil and gas development, echoing the success of other major offshore projects in the Santos Basin such as the Buzios field, where Chinese enterprises like CNOOC also hold stakes and participate in production.

Subsea7 defines a ‘supermajor’ contract as one valued at more than $1.25bn (£920m). The company will commence project management and engineering work immediately at its offices in Rio de Janeiro, Paris and Sutton, UK, with offshore operations scheduled to start in 2029.

Yann Cottart, Subsea7’s senior vice-president for 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.”

Subsea7’s involvement in Petrobras-led deep-water programmes leverages advanced SURF systems to enable production from technically challenging subsea fields, a capability that has also supported its recent project wins in other regions.

In a related development, SLB OneSubsea — a joint venture between SLB, Aker Solutions and Subsea7 — recently secured an engineering, procurement and construction contract for a deep-water project offshore Malaysia from PTTEP Sabah Oil, a subsidiary of PTT Exploration and Production Public Company. This deal extends OneSubsea’s role in delivering integrated subsea production systems for PTTEP’s Malaysian developments.

Additionally, last month Subsea7 was awarded further contract work by the Turkish Petroleum Offshore Technology Centre for the Sakarya field development offshore Türkiye, with the company stating the value of this additional work ranges between $300m and $500m.