Petrobras (PBR) commits R$ 60B to Sergipe Deepwater FPSO projects

Rhea-AI Filing Summary

Petróleo Brasileiro S.A. – Petrobras signed contracts with SBM Offshore to build, operate and later transfer two FPSO oil and gas production units for the Sergipe Deepwater (SEAP) project under a BOT model. Petrobras will own the units, while SBM Offshore will design, construct, assemble, operate and maintain them for an initial 6.5-year period.

Petrobras expects to invest more than R$ 60 billion in these projects, which together are expected to produce over 1 billion barrels of oil equivalent. Each FPSO will have capacity to produce 120,000 barrels of oil per day and process significant natural gas volumes, with production starting between 2030 and 2031.

The SEAP I and SEAP II projects target light, high-quality oil and non-associated gas in offshore concessions where Petrobras is operator, with varying partnership stakes. The FPSOs will be connected to a 134 km gas pipeline system, supporting greater natural gas availability in Brazil and contributing to national energy security.

Insights

Energy sector project analyst

Large long-dated deepwater investment, boosting future Brazilian output.

Petrobras is committing investments exceeding R$ 60 billion to two FPSO units for the Sergipe Deepwater (SEAP) project under a Build, Operate and Transfer model with SBM Offshore. Petrobras will ultimately own the assets, while SBM handles construction and an initial 6.5-year operating period.

The two FPSOs, SEAP-II (P-87) and SEAP-I (P-81), each have capacity to produce 120,000 barrels of oil per day and process up to 12 million and 10 million cubic meters of natural gas per day, respectively. Combined, they are expected to yield more than 1 billion barrels of oil equivalent from light, high-quality oil and low-contaminant, non-associated gas reservoirs.

First oil from SEAP-II is scheduled for 2030, with gas exports starting in 2031, while SEAP-I is due to start production in 2031. A 134 km gas pipeline network will connect the FPSOs to shore, helping expand Brazilian natural gas availability and supporting national energy security once these long-cycle projects come online.

Key Figures

Project investment: R$ 60 billion+ Expected production volume: 1 billion+ boe Oil capacity per FPSO: 120,000 barrels/day +5 more

8 metrics

Project investment R$ 60 billion+ Investments by Petrobras in two Sergipe Deepwater projects

Expected production volume 1 billion+ boe Total expected from two SEAP projects

Oil capacity per FPSO 120,000 barrels/day Installed capacity for SEAP-I (P-81) and SEAP-II (P-87)

Gas capacity SEAP-II 12 million m³/day Natural gas processing for FPSO SEAP-II (P-87)

Gas capacity SEAP-I 10 million m³/day Natural gas processing for FPSO SEAP-I (P-81)

Initial operation term 6.5 years SBM Offshore operation and maintenance period

SEAP-II first oil 2030 Scheduled start of oil production for SEAP-II (P-87)

Gas pipeline length 134 km Production offloading gas pipeline, 111 km offshore, 23 km onshore

Key Terms

FPSO, Build, Operate and Transfer (BOT) model, barrels of oil equivalent (boe), non-associated gas, +2 more

6 terms

FPSO technical

"contracts for the construction of two FPSO-type oil and gas production units"

A FPSO (Floating Production, Storage and Offloading unit) is a ship-like facility that sits offshore to process oil or gas pumped up from under the seabed, store the product, and transfer it to tankers or pipelines. For investors it matters because an FPSO turns remote reserves into cash: it represents a major capital asset and source of revenue but also concentrates operational, maintenance and safety risks that can affect production levels, costs and company valuation.

Build, Operate and Transfer (BOT) model financial

"for the Sergipe Deepwater (SEAP) project, under the Build, Operate and Transfer (BOT) model"

barrels of oil equivalent (boe) financial

"expected to produce a total of more than 1 billion barrels of oil equivalent (boe)"

A barrel of oil equivalent (boe) is a single unit that combines different types of energy production—mainly crude oil and natural gas—by converting them into the same energy value so they can be compared and totaled. Think of it as turning apples and oranges into pieces of fruit so you can count them together; investors use boe to compare production, reserves and revenue potential across companies and projects on a like-for-like basis.

non-associated gas technical

"reservoirs of light, high-quality oil and non-associated gas with low contaminant content"

Section 27A of the Securities Act of 1933 regulatory

"forecasts within the meaning of Section 27A of the Securities Act of 1933"

Section 21E of the Securities Trading Act of 1934 regulatory

"and Section 21E of the Securities Trading Act of 1934, as amended"

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FAQ

What did Petrobras (PBR) announce in this Form 6-K?

Petrobras announced signing contracts with SBM Offshore to build, operate and transfer two FPSO production units for the Sergipe Deepwater (SEAP) project, a major offshore oil and gas development in Brazil’s Northeast region.

How much will Petrobras (PBR) invest in the Sergipe Deepwater FPSOs?

Petrobras expects investments exceeding R$ 60 billion in the two Sergipe Deepwater FPSO projects. These investments target light oil and non-associated gas reservoirs and are expected to deliver more than 1 billion barrels of oil equivalent over the projects’ lives.

What are the production capacities of the SEAP-I (P-81) and SEAP-II (P-87) FPSOs?

Both FPSOs will each be able to produce 120,000 barrels of oil per day. SEAP-II can process 12 million cubic meters of natural gas per day, while SEAP-I can process 10 million cubic meters per day, supporting significant future offshore output.

When will the Sergipe Deepwater FPSOs for Petrobras (PBR) start production?

Oil production from SEAP-II (P-87) is scheduled to start in 2030, with gas exports beginning in 2031. SEAP-I (P-81) is expected to start production in 2031, reflecting the long development timeline typical of deepwater projects.

Who is Petrobras’s partner for constructing and operating the Sergipe Deepwater FPSOs?

SBM Offshore will design, construct, assemble, operate and maintain the two FPSOs under a Build, Operate and Transfer (BOT) model. Petrobras will be the owner of the units, while SBM Offshore operates them for an initial 6.5-year period before transfer.

How will the Sergipe Deepwater project affect natural gas supply in Brazil?

The FPSOs will connect to a 134 km gas pipeline, with 111 km offshore and 23 km onshore. This infrastructure is expected to expand natural gas availability in Brazil and strengthen national energy security once the SEAP fields begin producing and exporting gas.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the

Securities Exchange Act of 1934

For the month of May, 2026

Commission File Number 1-15106

PETRÓLEO BRASILEIRO S.A. – PETROBRAS

(Exact name of registrant as specified in its charter)

Brazilian Petroleum Corporation – PETROBRAS

(Translation of Registrant's name into English)

Avenida Henrique Valadares, 28 – 9th floor 
20231-030 – Rio de Janeiro, RJ
Federative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes _______ No___X____

 

Petrobras signs contracts for two FPSOs for the Sergipe Deepwater project

—

Rio de Janeiro, May 29, 2026 – Petróleo Brasileiro S.A. – Petrobras, following up on the announcement of April 13, 2026, announces that it has signed contracts today with SBM Offshore for the construction of two FPSO-type oil and gas production units for the Sergipe Deepwater (SEAP) project, under the Build, Operate and Transfer (BOT) model.

Petrobras will be the owner of the units, while SBM Offshore will be responsible for the design, construction and assembly, as well as the operation and maintenance of the two FPSOs for an initial period of 6.5 years.

With investments exceeding R$ 60 billion by Petrobras, the two projects are expected to produce a total of more than 1 billion barrels of oil equivalent (boe), representing a significant economic return for Petrobras. In addition, they will make a relevant contribution to increasing national oil and gas production and to developing a new oil and gas production frontier in Brazil’s Northeast region.

About the Sergipe Deepwater project

The FPSO SEAP-II (P-87) will have an installed capacity to produce 120,000 barrels of oil per day and process 12 million cubic meters of natural gas per day. The start of oil production is scheduled for 2030, with gas export beginning in 2031. The SEAP II project comprises reservoirs of light, high-quality oil and non-associated gas with low contaminant content, located about 80 km off the coast, in the BM-SEAL-4, BM-SEAL-4A and BM-SEAL-10 concessions. Petrobras is the operator of the BM-SEAL-4 concession, with a 75% stake, in partnership with ONGC Campos Limitada (25%), and operates the BM-SEAL-4A and BM-SEAL-10 concessions, in which it holds a 100% stake.

The FPSO SEAP-I (P-81) will have an installed capacity to produce 120,000 barrels of oil per day and process 10 million cubic meters of natural gas per day. The start of production is scheduled for 2031. The SEAP I project comprises reservoirs of light, high-quality oil and non-associated gas with low contaminant content, located in the BM-SEAL-11 and BM-SEAL-10 concessions, approximately 100 km off the coast. Petrobras is the operator of the BM-SEAL-11 concession, with a 60% stake, in partnership with IBV Brasil Petróleo Ltda. (40%), and holds a 100% stake in the BM-SEAL-10 concession.

The FPSOs will be connected to a production offloading gas pipeline approximately 134 km in length — 111 km offshore and 23 km onshore. This infrastructure will help expand the availability of natural gas in Brazil and strengthen national energy security.

www.petrobras.com.br/ri

For more information:

PETRÓLEO BRASILEIRO S.A. – PETROBRAS | Investor Relations

Email: petroinvest@petrobras.com.br/acionistas@petrobras.com.br

Av. Henrique Valadares, 28 – 9th floor – 20231-030 – Rio de Janeiro, RJ.

Tel.: 55 (21) 3224-1510/9947

This document may contain forecasts within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Trading Act of 1934, as amended (Trading Act) that reflect the expectations of the Company's officers. The terms: "anticipates", "believes", "expects", "predicts", "intends", "plans", "projects", "aims", "should," and similar terms, aim to identify such forecasts, which evidently involve risks or uncertainties, predicted or not by the Company. Therefore, future results of the Company's operations may differ from current expectations, and the reader should not rely solely on the information included herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 29, 2026

PETRÓLEO BRASILEIRO S.A–PETROBRAS

By: /s/ Fernando Sabbi Melgarejo

______________________________

Fernando Sabbi Melgarejo

Chief Financial Officer and Investor Relations Officer