SLB wins contract for 35 ultra-deepwater wells offshore Brazil

SLB (NYSE: SLB) received a contract from Petrobras (NYSE: PBR) to provide completion services and technology for up to 35 ultra-deepwater wells in Brazil's Santos Basin, according to a company statement.

The wells are part of the second development phase of the Atapu and Sépia fields, targeting oil and gas reserves located beneath salt layers up to 2,000 meters below the ocean surface. SLB will deploy electric completion technologies and digital solutions designed to provide real-time production data and reservoir management capabilities.

The completion work is scheduled to begin in mid-2026 and will include SLB's Electris interval control valves, which are designed for high-flow-rate wells. The contract was awarded through a competitive tender process.

"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 at SLB.

The contract follows another agreement awarded to SLB OneSubsea, a joint venture involving SLB, by Petrobras in 2024 for subsea production systems and services for the same fields.

The information is based on a press release from SLB.

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