1. SLB secures major contract from PBR for 35 ultra-deepwater wells. 2. Project will improve production with real-time intelligence technologies. 3. Development targets crucial oil and gas in the Santos Basin. 4. Expected to enhance Brazil's energy security and economic growth. 5. Work set to commence in mid-2026.
The contract boosts production capabilities for Petrobras at essential fields. Historical contracts yielding positive results similarly improved stock outlook.
The contract's potential to increase production directly impacts revenue and market perception.
The expected production from new technologies will influence future revenues over time, particularly with work starting in 2026.
Global technology company SLB (NYSE: SLB) today announced a major contract from Petrobras (NYSE: PBR) to provide services and technology for up to 35 ultra-deepwater wells in the strategically important Santos Basin.
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As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.
The wells, which are part of the second development of the Atapu and Sépia fields, target massive pockets of oil and gas beneath thick salt layers, located up to 2,000 meters below the ocean's surface.
As part of its project scope, SLB will deploy advanced electric completions technologies and digital solutions that deliver precise, real-time production intelligence and improved reservoir management to optimally produce these valuable and hard-to-access resources.
"This will help Petrobras drive greater reliability, system uptime and production performance in those fields — supporting Brazil's energy security and economic growth ambitions," said Paul Sims, president of Production Systems, SLB.
The completions work is scheduled to begin in mid-2026 and will feature advanced services and technology from SLB's completions portfolio, such as SLB's Electris™ high-flow-rate interval control valves, which are designed to increase production control and recovery from geologically complex, high-flow-rate wells.
This work follows another major contract awarded to the SLB OneSubsea™ joint venture by Petrobras for the Atapu and Sépia fields in 2024, which includes standardized, pre-salt subsea production systems and related services.
The contract was awarded following a competitive tender process.
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
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