SLB Awarded Major Completions Contract for Ultra-Deepwater Project Offshore Brazil
Global technology company SLB (NYSE: SLB) has announced a significant milestone in its ongoing partnership with Petrobras (NYSE: PBR), one of the world’s largest integrated energy companies. SLB has been awarded a major contract to deliver advanced completions services and technologies for up to 35 ultra-deepwater wells located in Brazil’s Santos Basin, one of the most strategically important offshore energy regions in the world.
The contract covers wells in the second development phase of the Atapu and Sépia fields. These massive pre-salt reservoirs, situated beneath thick layers of salt and more than 2,000 meters below the ocean’s surface, represent some of the most technically challenging yet resource-rich oil and gas plays on the planet. Successful development of these reserves is seen as critical to Brazil’s future energy security, its economic growth, and Petrobras’ ability to maintain its position as a global leader in deepwater production.
Advanced Technologies for Complex Reservoirs
Under the new agreement, SLB will deploy a comprehensive suite of cutting-edge completions technologies and digital solutions designed specifically to maximize production in ultra-deepwater and pre-salt environments. The company’s approach centers on providing precise, real-time production intelligence and enhanced reservoir management capabilities.
This means that Petrobras will gain deeper insight into the performance of each well as it comes online, with the ability to make informed decisions faster and with greater accuracy. Such capabilities are vital in the Santos Basin, where geological complexity and extreme operating conditions demand the highest level of reliability and technological sophistication.
Among the advanced tools to be deployed are SLB’s Electris™ high-flow-rate interval control valves. These next-generation valves are engineered to enhance production control, optimize recovery, and improve efficiency in high-flow-rate wells. By integrating these technologies into the Atapu and Sépia wells, SLB aims to help Petrobras achieve greater reliability, reduced downtime, and maximized recovery of valuable hydrocarbons.
Paul Sims, president of Production Systems at SLB, emphasized the importance of this contract to both companies:
“This project will help Petrobras drive greater reliability, system uptime, and production performance in these fields — supporting Brazil’s energy security and economic growth ambitions. We are proud to partner with Petrobras in unlocking the vast potential of the pre-salt reserves using advanced digital and completions technologies.”
Project Timeline and Scope
The completions work is scheduled to begin in mid-2026, marking the start of a multi-year program that will see SLB provide both services and technology to Petrobras in one of its most critical offshore developments. The scope of work encompasses not only the deployment of high-tech completions systems but also integration of real-time digital monitoring, which will allow Petrobras engineers to continuously assess well performance and make proactive adjustments.
The Santos Basin has already been a game-changer for Brazil’s energy industry, and the continued development of the Atapu and Sépia fields is expected to add significant new production capacity. These fields are part of the broader pre-salt province, which has been estimated to hold tens of billions of barrels of recoverable oil equivalent. With global demand for energy continuing to grow, Brazil’s ability to efficiently and sustainably tap into these reserves has major implications for both the regional and global energy markets.
Building on a Strong Partnership
This latest award builds on a long history of collaboration between SLB and Petrobras in Brazil. Just last year, in 2024, SLB’s OneSubsea™ joint venture received a major contract from Petrobras to deliver standardized subsea production systems and related services for the Atapu and Sépia fields. That agreement focused on subsea hardware and infrastructure, including equipment designed to withstand the harsh operating conditions of deepwater environments.
The new completions contract complements that earlier work by extending SLB’s role further down the value chain into well completions, reservoir management, and production optimization. Together, the subsea systems and completions services create a more integrated development framework, giving Petrobras the ability to manage the full life cycle of these ultra-deepwater wells with higher efficiency and lower risk.
Strategic Importance for Brazil
For Brazil, the development of the pre-salt fields is more than just a matter of producing oil and gas. It represents a cornerstone of national energy policy and a driver of long-term economic growth. Revenues from pre-salt production help fund government programs, strengthen Brazil’s balance of trade, and support investments in infrastructure, education, and social services.
At the same time, Petrobras and its partners are under pressure to ensure that production is both sustainable and aligned with global energy transition goals. Deploying advanced completions and digital technologies from SLB helps achieve this by improving efficiency, minimizing waste, and reducing the risk of operational failures that could impact the environment.
