Petrobras awards $11B contract to Seatrium for FPSOs in Brazil's Santos Basin

From Nasdaq: 2024-05-27 05:47:00

Petrobras awards $11 billion contract to Seatrium for construction of two cutting-edge FPSOs in Brazil’s Santos Basin. FPSOs scheduled for Atapu and Sepia fields with enhanced efficiency and sustainability features to reduce environmental impact. Seatrium to commence construction by Q1 2025 for final delivery by 2029 through global collaboration. Partnership strengthens Brazil’s energy infrastructure. Oil production boost and focus on sustainability key drivers behind collaboration between Petrobras and Seatrium for FPSO vessels. Significant milestone in Brazil’s offshore energy capabilities. Collaboration highlights commitment to innovation, sustainability, and global collaboration. Zacks Rank #3 hold on Petrobras, with better-ranked stocks in energy sector like Archrock Inc. AROC, SM Energy Company SM, and Sunoco LP SUN. Archrock pays dividend of 66 cents/share, SM Energy pays dividend of 72 cents/share, and Sunoco LP is a major wholesale motor fuel distributor in the US. Bitcoin continues to offer highest returns compared to any asset class in recent years, with significant predicted surge ahead. Download Zacks special report for more insights and recommendations.



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