Petrobras, bp and key players drive Brazil’s offshore growth in 2025
Petrobras led major operational advancements, including record-breaking production at Búzios and strategic asset divestments, while bp announced a hydrocarbon discovery, and Equinor expanded its exploration portfolio, reflecting a dynamic and competitive offshore sector in Brazil.
The following compilation provides the latest 2025 news from industry players offshore Brazil.
Petrobras
Aug. 1, 2025 – Petrobras signed R$1.2 billion (US$222.6 million) in contracts for two liftboat-type vessels to support platform readiness and maintenance operations in the Sergipe-Alagoas and Rio Grande do Norte-Ceará basins. The vessels, chartered for three years, will aid in the decommissioning of fixed platforms and improve operational efficiency.
Aug. 5, 2025 – Petrobras finalized the divestment of its 100% interest in the Cherne and Bagre fields, located in shallow waters of the Campos Basin, to Perenco Petróleo e Gás do Brasil. Production at both fields had been halted since March 2020. The transfer includes compensation adjustments and offers Perenco the opportunity to resume operations, avoiding decommissioning.
Aug. 15, 2025 – The FPSO Almirante Tamandaré, operating in the Búzios Field, reached a production rate of 225,000 bbl/d—setting a new record for Petrobras’ highest output per unit. The platform achieved this milestone three months ahead of schedule and is part of the Búzios 7 development.
Aug. 18, 2025 – Petrobras announced that the Búzios Field surpassed 900,000 bbl/d of oil in total production, marking a new record. The increase was driven by the activation of the fifth well on the Almirante Tamandaré FPSO. The field now operates six production units and is approaching the output levels of the Tupi Field.
Aug. 19, 2025 – The NS-42 drilling rig, chartered by Petrobras, arrived at Block FZA-M-59 in deep waters off Amapá. The rig was scheduled to be used in a pre-operational assessment (APO) beginning Aug. 24, the final step in the environmental licensing process for exploratory drilling in the Equatorial Margin.
bp
Sept. 10, 2025 – bp announced a hydrocarbon discovery at the Bumerangue exploration well in the Potiguar Basin offshore Brazil. The well is located in deep waters about 52 km off the coast of Rio Grande do Norte. bp is the operator of the block with a 40% stake, alongside partners Petrobras (30%) and CNODC Brasil Petróleo e Gás (30%). The discovery is under evaluation to determine its commercial viability.
Equinor
May 1, 2025 – Equinor agreed to sell its 100% operated interest in the Peregrino Field offshore Brazil to Yinson Production for US$3.5 billion. The transaction includes the Peregrino FPSO and associated infrastructure. The field, located in the Campos Basin, has been producing since 2011. Equinor stated the sale aligns with its portfolio optimization strategy.
June 17, 2025 – Equinor was awarded Block S-M-1617 in Brazil’s Santos Basin during the country’s 5th Open Permanent Concession bid round. The block, located about 400 km offshore in water depths up to 2,600 m, is near Equinor’s existing S-M-1378 license. The company secured the acreage with a 100% stake and a signature bonus of BRL 30.5 million (US$5.6 million). This acquisition reinforces Equinor’s long-term growth strategy in Brazil and expands its deepwater exploration portfolio.
PRIO
July 2025 – PRIO reported total production of 100,794 boe/d across its operated assets, including Frade, Polvo + Tubarão Martelo (TBMT), Albacora Leste (90%), and Peregrino (40%). Production at Frade was temporarily impacted by a gas compressor failure, which has since been resolved. At Polvo + TBMT, output was affected by the shutdown of well TBMT-6H due to a submerged centrifugal pump failure. Peregrino experienced reduced output due to a scheduled shutdown.
August 2025 – Total production declined to 91,896 boe/d. The TBMT-6H workover began and is expected to conclude in September. Peregrino production was further impacted by an FPSO shutdown following an ANP audit. PRIO, as a consortium partner and future operator, is supporting Equinor in meeting regulatory requirements.
Rig market update
As of Aug. 1, 2025, Brazil had 49 offshore drilling rigs in operation or in various stages of readiness, according to Westwood Global Energy Group’s RigLogix data:
- Active drilling rigs: 36
- Workover rigs: 4
- Warm stacked: 3
- Cold stacked: 1
- Sea trials: 2
- Shipyard (inspection/modification): 2
- Waiting on location: 1
Petrobras remains the dominant operator, managing the majority of active rigs across drillships, semisubs and platform rigs. Equinor, PRIO, bp and Trident Energy also maintain active drilling operations.
Drillships and semisubmersibles dominate the fleet, with several units from Transocean, Seadrill, Constellation Oil Services and Valaris actively drilling. Platform rigs are also in use, particularly in mature fields.
About the Author
Ariana Hurtado
Editor-in-Chief
With more than a decade of copy editing, project management and journalism experience, Ariana Hurtado is a seasoned managing editor born and raised in the energy capital of the world—Houston, Texas. She currently serves as editor-in-chief of Offshore, overseeing the editorial team, its content and the brand's growth from a digital perspective.
Utilizing her editorial expertise, she manages digital media for the Offshore team. She also helps create and oversee new special industry reports and revolutionizes existing supplements, while also contributing content to Offshore's magazine, newsletters and website as a copy editor and writer.
Prior to her current role, she served as Offshore's editor and director of special reports from April 2022 to December 2024. Before joining Offshore, she served as senior managing editor of publications with Hart Energy. Prior to her nearly nine years with Hart, she worked on the copy desk as a news editor at the Houston Chronicle.
She graduated magna cum laude with a bachelor's degree in journalism from the University of Houston.