On March 24, 2026, Equinor initiated drilling activities for the Raia offshore gas project in the Campos Basin. The development, estimated at around US$9 billion, is expected to begin production in 2028, with projected output of approximately 16 million cubic meters of gas per day and 126,000 barrels per day of oil and condensate.
The project could supply close to 15% of Brazil’s domestic gas demand and marks the transition from project planning to execution phase, reinforcing Equinor’s integrated position across offshore gas and onshore renewables in Brazil.
Equinor acquired the Esquina do Vento onshore wind complex, with 230 MW of installed capacity, located in Rio Grande do Norte. The asset was purchased from Vestas and is ready for construction, expected to begin in Q2 2026, with commercial operation planned for 2028.
The project will include 51 wind turbines and an estimated annual generation of around 1 TWh. Development will be led by Rio Energy, with energy commercialization handled by Danske Commodities.
WSB is pleased to provide an update on the current long-term tenders that are open to offer.
Open tenders:
What has changed?
Petrobras At least 1x PLSV: Opportunity 7004549819 released January 14th, 2026.
What else is happening?
Floatel Victory is due to move to Karoon for a 4-6-month period after the end of its contract with PRIO, scheduled for Q1 2026 (following takeover of the field from Equinor). Rumors of a PSV will also support the floatel operation, providing supply duties to the accommodation unit.
Lagunero has arrived at the Guanabara Bay anchorage, where it is preparing to start an accommodation contract with Petrobras.
Competitive market: a high number of PSV bids is expected in the ongoing in the TechnipFMC tender, in light of Petrobras’ slowing down chartering demand.
OTSV Marina I has gone through an early termination by Petrobras for not meeting the technical/operational required performance
Equinor won PPSA’s 5th Spot Oil Auction, securing the first 1 million-barrel cargo of crude oil belonging to the Union from the Bacalhau field, in pre-salt Santos Basin. The cargo is scheduled for loading in late March 2026, marking the start of commercialization of the Union’s oil from the asset.
As reported yesterday, the auction gathered five qualified bidders — Equinor, ExxonMobil, Galp, Petrobras and PetroChina — underscoring strong interest from global majors in Brazil’s pre-salt crude. The sale follows the start-up of Bacalhau, which began production on October 15, 2025.
According to PPSA (Pré-Sal Petróleo S/A), a new spot auction is already planned for March, covering additional Union oil cargoes from Bacalhau, reinforcing the transition of the field from initial production to a regular commercialization phase. Under the current cycle, three to four Union cargoes are expected, with further liftings scheduled between May and September 2026. Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.
The Expomag Convention Center in Rio de Janeiro hosted OTC Brasil 2025 from October 28 to 30, bringing together key stakeholders from across the oil, gas, and energy value chain. Inspired by the traditional OTC Houston, the conference gathered thousands of attendees and reinforced Brazil’s role in the global offshore industry.
WSB Advisors attended the event with a delegation representing commercial, technical, content and HSEQ functions: Raphael Montes (Proposals Manager), Pedro Pellegrini (Shipbroker Intern), Romulo Bacchiega (Head of Content & Sales), Ronaldo Lima (Senior Advisor), Genesio Ramos (New Building Lead), Jake van den Dries (Partner & HSEQ Lead), and Daniel Buckley (Chartering Manager). Their presence underscored our commitment to following industry trends and strengthening strategic relationships across the energy ecosystem.
OTC Brasil (Source: Ronaldo Lima/WSB Advisors)
Under the theme “The future of deepwater technologies: connecting oil, gas and renewables,” this year’s edition highlighted the potential of Brazil’s Equatorial Margin, along with discussions on AI, CCUS, offshore wind, and diversity. The program featured more than 200 exhibitors and 150 speakers, including executives from Petrobras, Shell, Equinor, TotalEnergies, Chevron, SLB and TechnipFMC, as well as government representatives from Amapá, home to Petrobras’ FZA-M-059 exploration block.
The exhibition floor reflected strong participation from industry players such as Porto do Açu, Camorim and Posidonia, in addition to offshore equipment and service providers, IBP, and DNV. The audience ranged from C-level leaders to entrepreneurs, students and operational professionals, reinforcing the event’s collaborative profile.
A technical highlight was TotalEnergies’ presentation of a new, safer and more efficient polymer technology for well cementing operations on drillships.
Held every two years, OTC Brasil remains a key forum for networking, business development and knowledge exchange shaping the future of the Brazilian offshore industry. For WSB Advisors, the event was an opportunity to deepen market insights, strengthen partnerships and reaffirm our role in supporting clients through the evolving energy landscape.
In addition to the exhibition, WSB Advisors also attended parallel events such as Triunfo Cocktail Party at EXC Rio.
Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.
On October 22, Brazil’s National Agency for Petroleum, Natural Gas and Biofuels (ANP) held the 3rd Permanent Sharing Offer in Rio de Janeiro. Of the seven pre-salt blocks offered, five were awarded — Esmeralda and Ametista, in the Santos Basin, and Citrino, Itaimbezinho, and Jaspe, in the Campos Basin.
The winners were:
Karoon – Esmeralda
CNOOC (70%) and Sinopec (30%) – Ametista
Petrobras – Citrino
Equinor – Itaimbezinho
Petrobras (60%) and Equinor (40%) – Jaspe
Jaspe received the highest bid of the round, offering 32.85% of profit oil to the State, after Petrobras exercised its right of first refusal over Chevron’s proposal. Signature bonuses totaled BRL 103.7 million, with initial exploration investments of BRL 451.5 million.
The round marked the debut of independents Karoon and Sinopec under Brazil’s production-sharing regime, signaling greater diversity among operators historically dominated by majors. The Chinese consortium CNOOC–Sinopec became the first state-owned operator from China to lead a pre-salt area.
Despite the absence of most traditional majors, the auction was deemed a success given the current oil price volatility and reduced attractiveness of the sharing regime. Citrino registered the highest premium, with 251.63% above the minimum profit oil percentage.
ANP Director Symone Araujo emphasized that “replacing reserves is a fundamental duty for energy security.” The agency is now preparing the technical presentation of 16 new blocks for inclusion in the next bidding cycle, potentially bringing 26 new areas to the market under the sharing regime.
Contract signing is expected by May 2026.
Stay informed on key offshore developments — visit wsb-one.com , our data platform trusted by leading offshore companies.
WSB is pleased to provide an update on the current long-term tenders that are open to offer.
What has changed?
Petrobras At least 1x LH: Opportunity 7004497614 new deadline October 30th, 2025;
Petrobras At least 1x FSV: Opportunity 7004492292 new deadline October 30th, 2025;
Petrobras At least 1x LH: Opportunity 7004484466 new deadline October 30th, 2025;
What else is happening?
Skandi Chieftain and Skandi Olympia have been awarded 4-year RSV contracts with Petrobras, valued at approximately USD 200 million, with delivery expected in October 2026.
FPSO Peregrino
The FPSO Peregrino, operating in the Campos Basin, officially resumed production on October 17, 2025, following authorization from ANP. The platform, operated by Equinor, will now begin ramping up output after being offline since August 2025, when production was halted due to operational safety procedures.
The restart marks an important step for PRIO, which holds a 40% interest in the field. The remaining 60% stake in the Peregrino field is currently being acquired from Equinor, in a transaction expected to significantly expand PRIO’s operated portfolio in the Campos Basin.
The Peregrino FPSO produces heavy oil from shallow waters and has been a key contributor to Brazil’s offshore production since it first came online in 2011.
FPSO Peregrino (Source: Equinor)
Key Offshore Updates
Halliburton has signed new contracts to support operations in deepwater fields in the Santos Basin, with activities set to begin in 2026. In the Búzios field, the company will deploy SmartWell technology to optimize production, while in the Sépia and Atapu fields, it will supply EcoStar electric safety valves. The Stim Star Brasil vessel will also perform stimulation services to enhance the productivity and efficiency of Petrobras’ reservoirs.
SBM submitted the best proposals in Petrobras’ tender for the SEAP I and II FPSOs, valued at approximately US$ 4 bi. Petrobras now review compliance with technical and contractual requirements before awarding the contracts. Both units will follow the Build, Operate, and Transfer (BOT) model, under which the contractor is responsible for construction, operation, and later transfer of the assets. SEAP 2 is expected to begin operations in 2030.
The SEAP project forms part of Petrobras’ broader strategy to accelerate production growth and improve access to financing.
Petrobras has announced plans to restart operations of the FPSO Cidade de Angra dos Reis in the Tupi field, following compliance with safety requirements established by Brazil’s regulatory agency, ANP . The unit has been offline since February but is expected to return to service.
The FPSO Cidade de Angra dos Reis has a production capacity of up to 50,000 barrels of oil per day and has been operating in the Tupi field since October 2010. It was the first large-capacity FPSO to begin production in the Santos Basin pre-salt area, marking a key step in Brazil’s offshore development
FPSO Cidade Angra dos Reis (Source; Petrobras)
FPSO Bacalhau
The FPSO Bacalhau has officially begun production in the Santos Basin pre-salt, marking a major step in Brazil’s offshore development. Operated by Equinor in partnership with ExxonMobil and Petrogal, the unit is among the most advanced ever deployed in the country, a 370-meter-long and 64-meter-wide floating production system with capacity to process 220,000 barrels of oil per day and store up to 2 million barrels.
Production started on October 15, 2025, at the Bacalhau field, located about 185 km off the coast of Ilhabela (São Paulo), in water depths exceeding 2,000 meters. The first phase includes 19 wells that will be gradually brought online during the ramp-up period.
The field’s recoverable reserves exceed 1 billion barrels of oil equivalent (boe), making it one of the largest deepwater projects under development outside Petrobras’ direct operation. The FPSO, supplied and operated initially by MODEC, integrates combined-cycle gas turbines (CCGT) and advanced CO₂-abatement systems designed to keep carbon intensity around 9 kg per boe.
Ownership is distributed among Equinor (40%, operator), ExxonMobil Brasil (40%), and Petrogal Brasil (20%), with PPSA overseeing production sharing over its expected 30-year lifetime.
Special Westhon Media
Media reports say the AHTS Suvarna has been abandoned in Rio’s Canal do Cunha — leaking oil, listing, and the subject of investigations and actions against current responsible Superpesa.
The once-formidable AHTS trio – Suvarna, Sudaksha and Subhiksha – were originally part of Varun Shipping’s fleet, left adrift during the oil downturn and later registered under Wilson Sons, left over with the local shipping company.
Today?
The Brazilian Navy, Tribunal Marítimo, and ANTAQ have no record whatsoever of these vessels. They’ve been sold, scrapped, or simply vanished.
FACT CHECK:
Only Suvarna still “exists” – barely floating, rusting and spilling in the shadows of Guanabara Bay.
Sudaksha and Subhiksha? Dismantled. One of their keels now lies underwater, literally.
Yet, some “global databases” still list all three as tonnage.
Not on WSB-One.
At WSB-One.com, ships don’t vanish – they’re verified.
Next Thursday: “Por onde anda VARADA MARESIAS?”
Stay tuned.
Source: Internet
WSB at UFRJ
At the invitation of the Naval League, WSB Advisors held a special talk yesterday (October 14th) for students of Naval and Ocean Engineering at UFRJ. Four WSB professionals shared their experiences and insights on the current landscape and future opportunities in the naval and offshore industries — both essential pillars for Brazil’s energy and economic development.
Source: Plínio Ruan dos Santos Lima/Liga Naval
The two-hour roundtable was moderated by Raphael Montes (Proposals Manager) and featured Paulo Rolim (Advisory Lead), Ronaldo Lima (Senior Advisor), and Pedro Pellegrini (Intern and Naval Engineering student at UFRJ). Together, the group fostered an enriching and intergenerational dialogue, combining different but complementary perspectives on professional growth in the industry.
Source: Plínio Ruan dos Santos Lima/Liga Naval
During the discussion, WSB Advisors explained how the commercial segment operates within the naval industry, emphasizing that there is much more beyond structural calculations, EPCI projects, and classification societies. The speakers highlighted that shipbroking does not necessarily require an engineering background — although a solid understanding of vessel design and operations is a valuable advantage.
Ronaldo Lima, a civil engineer by training, shared his experience transitioning from a technical foundation into the commercial and financial sides of the offshore sector, detailing the challenges and opportunities that come with this shift.
Paulo Rolim emphasized that even in uncertain market cycles, there will always be space for skilled professionals. With five decades of experience as a naval engineer, he underlined the importance of internships, continuous learning, and the university experience as key elements in developing maturity and professional confidence.
Closing the session, Pedro Pellegrini spoke about the importance of building a strong and authentic professional network — even for those pursuing purely technical paths. He highlighted how his time at WSB Advisors has broadened his perspective, giving him a comprehensive understanding of the sector and its main players — from shipowners and charterers to drillers and service companies.
The event concluded with remarks from Plínio Ruan dos Santos Lima, Vice President and Marketing Coordinator of the Naval League, who expressed his gratitude:
“The Naval League is deeply thankful for WSB Advisors’ participation. Events like this show students the real-world side of naval engineering and its many opportunities while inspiring us with the speakers’ experiences. Every word was received with enthusiasm and will serve as valuable guidance for our professional journeys. One question that remains is: what’s more challenging — moving from the technical side to the commercial area, or the other way around?”
Staff Announcement
WSB Advisors is pleased to welcome Romulo Bacchiega, who joins the company as Head of Content & Sales.
Born in Niterói (RJ), Romulo joined the team in late October with the mission of strengthening WSB Advisors’ communication and marketing departments while fostering strategic partnerships with leading offshore market players.
With a solid career since 2004 in the Oil & Gas and Naval sectors, he brings extensive experience in technical procurement, negotiation and EPC contract management. Over the years, he has worked with major shipyards and international companies, leading acquisitions of equipment, materials and services for large-scale projects — including the construction of ships and offshore platforms.
Fluent in English and skilled in the use of Generative AI tools, Romulo holds a degree in Business Administration from ESPM, a postgraduate degree in Project Management from COPPEAD/UFRJ, and is currently pursuing postgraduate studies in Digital Journalism and Communication at FAAP. He is recognized for his strong negotiation skills, strategic vision in procurement and proven ability to optimize processes and manage relationships with global suppliers.
We are excited to have Romulo on board and look forward to his contributions and growth within the group.
“It is a great pleasure and honor to join such a highly qualified and dedicated team as the one I’ve found at WSB. I am confident that we will achieve excellent results together, delivering information with accuracy and credibility while contributing to the development of the naval, offshore and energy sectors through WSB’s valuable market intelligence,” said Bacchiega.
The FPSO Peregrino, operating in the Campos Basin, officially resumed production on October 17, 2025, following authorization from (ANP). The platform, operated by Equinor do Brasil, will now begin ramping up output after being offline since August 2025, when production was halted due to operational safety procedures.
The restart marks an important step for PRIO, which holds a 40% interest in the field. The remaining 60% stake in the Peregrino field is currently being acquired from Equinor, in a transaction expected to significantly expand PRIO’s operated portfolio in the Campos Basin.
The Peregrino FPSO produces heavy oil from shallow waters and has been a key contributor to Brazil’s offshore production since it first came online in 2011.
Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.
The FPSO Bacalhau has officially begun production in the Santos Basin pre-salt, marking a major step in Brazil’s offshore development. Operated by Equinor in partnership with ExxonMobil and Petrogal, the unit is among the most advanced ever deployed in the country, a 370-meter-long and 64-meter-wide floating production system with capacity to process 220,000 barrels of oil per day and store up to 2 million barrels.
Production started on October 15, 2025, at the Bacalhau field, located about 185 km off the coast of Ilhabela (São Paulo), in water depths exceeding 2,000 meters. The first phase includes 19 wells that will be gradually brought online during the ramp-up period.
FPSO Bacalhau (Source: MODEC)
The field’s recoverable reserves exceed 1 billion barrels of oil equivalent (boe), making it one of the largest deepwater projects under development outside Petrobras’ direct operation. The FPSO, supplied and operated initially by MODEC, integrates combined-cycle gas turbines (CCGT) and advanced CO₂-abatement systems designed to keep carbon intensity around 9 kg per boe.
Ownership is distributed among Equinor (40%, operator), ExxonMobil Brasil (40%), and Petrogal Brasil (20%), with PPSA overseeing production sharing over its expected 30-year lifetime.
Stay informed on key offshore developments — visit wsb-one.com, our data platform trusted by leading offshore companies.
AKOFS Offshore has secured a new four-year contract with Petrobras for the multipurpose support vessel (MPSV) AKOFS Santos. Built in 2009, the vessel will continue to provide subsea construction and well intervention services for the Brazilian company.
The new contract, valued at approximately USD 246 million, is set to begin in January 2027 following the conclusion of the current agreement Around USD 140 million will be recognized as revenue for AKOFS over the contract period.
Operations will be carried out in partnership with Bravante, which will provide marine support and IKM Subsea, responsible for remotely operated vehicle (ROV) services. With this award, AKOFS’ order backlog has reached about USD 612 million at the end of Q2 2025.
The company currently operates three specialized vessels: AKOFS Santos and Aker Wayfarer, both under contract with Petrobras in Brazil, and AKOFS Seafarer, operating with Equinor in the North Sea.
The Brazilian National Petroleum Agency (ANP) has suspended operations on the FPSO Peregrino, operated by Equinor in the Campos Basin, after an audit identified with safety management and fire fighting system. Production has been halted and necessary adjustments are estimated to take between three to six weeks.
PRIO, which holds a 40% stake in the field and is acquiring the remaining 60% from Equinor for USD 3.35 billion, has reaffirmed that the transaction remains subject to ANP and CADE approval. The acquisition is structured in two phases and is expected to be completed by 2026.
In the second quarter, the Peregrino field averaged production of 97,500 barrels per day. Following the full acquisition, PRIO aims to nearly double output, targeting 190,000 barrels per day. Equinor has confirmed that corrective measures are underway, with safety as the company’s top priority.
Equinor has received the installation license from Ibama for the offshore segment of the Raia Project gas pipeline in Brazil’s Campos Basin. The approval enables the company to begin offshore construction of the 200-kilometer pipeline that will connect the Raia FPSO to the Cabiúnas gas treatment hub in Macaé.
Scheduled to start operations in 2028, the project is expected to supply up to 15% of Brazil’s natural gas demand, playing a key role in strengthening the country’s energy security and industrial development. According to Equinor, the initiative could generate up to 50,000 direct and indirect jobs throughout its lifecycle.
Raia is one of the largest natural gas developments in the country, operated by Equinor (35%), alongside Repsol Sinopec (35%) and Petrobras (30%). The project will handle up to 16 million cubic meters of natural gas per day and holds recoverable oil and condensate reserves exceeding 1 billion barrels of oil equivalent (boe).
The FPSO will process both gas and condensate on board, with natural gas transported to shore via the subsea pipeline and liquids offloaded by shuttle tankers. Notably, the project emphasizes local content: more than 99% of the 20,000 tons of steel used for the gas pipeline were produced in Brazil.
