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6 clusters · 38 sources · 26 days · First seen · Last updated

Petrobras offshore development and Pemex partnership

Overview

In late July 2026, Petrobras advanced its deep‑water SEAP project in the Sergipe‑Alagoas basin, securing a competitive bid from OneSubsea, Baker Hughes, and TechnipFMC to supply up to 32 submerged Christmas trees valued at approximately R$ 3 billion. During the same period, Nuclep delivered five additional torpedo piles, bringing the 2026 total to 11 of the 37 piles planned for anchoring subsea systems in fields such as Marlim, Atapu, Roncador, and the Campos Basin.

On 23 June, Petrobras and Mexico’s Pemex signed a two‑year, renewable memorandum of understanding (MoU) in Rio de Janeiro to evaluate joint deep‑water and ultra‑deep‑water projects, seismic reprocessing, heavy‑oil operations, and carbon‑capture. The MoU is non‑binding, requiring separate agreements and regulatory approval for any investment. By early August, the bilateral relationship deepened as Mexico and Brazil reconvened their Binational Commission. Led by Mexican Foreign Minister Roberto Velasco and Brazilian Chancellor Mauro Vieira, the commission expanded cooperation to include trade, science, education, and diplomatic support.

On 14 August, Mexican President Claudia Sheinbaum and Brazilian President Luiz Inácio Lula da Silva held a videoconference to strengthen bilateral relations, focusing on trade, energy, and social policies. Building on the June MoU, the two state-owned oil companies are negotiating a second agreement focused on refining and the sale of fuels.

By late August, the partnership evolved to include high-risk exploration of Jurassic rock formations under the Gulf of Mexico, specifically targeting Campeche Bay. This project aims to tap into crude reserves in rocks dating back 160 million years. While the project offers potential for vast reserves, it carries substantial physical, financial, and environmental risks due to extreme depths and high-pressure conditions. Pemex is leveraging Petrobras’s technical expertise, specifically its two decades of experience drilling Brazil’s prolific pre-salt layers, to manage these challenges.

Entities

Petrobras · Pemex · Brazil · Claudia Sheinbaum · Gulf of Mexico

Timeline

  1. 23 days ago

    [BUSINESS] 2 sources
    Pemex and Petrobras partner for deep-water drilling in Mexico

    Pemex and Petrobras are partnering to explore deep Jurassic oil formations in Mexico’s Campeche Bay, leveraging Brazilian expertise to target high-risk, high-reward offshore resources.

  2. 27 days ago

    [BUSINESS] 5 sources
    Petrobras and Pemex partner for high-risk deepwater exploration

    Petrobras and Pemex are partnering to explore 160-million-year-old rock formations in the Gulf of Mexico, while Brazil's Petrobras continues to drive regional job growth through massive offshore investments.

  3. about 1 month ago

    [INTERNATIONAL] 17 sources
    Brazil and Mexico strengthen energy and trade ties

    Presidents Claudia Sheinbaum and Lula da Silva discussed strengthening Brazil-Mexico trade and energy ties, specifically advancing cooperation between state oil companies Pemex and Petrobras.

  4. about 1 month ago

    [POLITICS] 11 sources
    Mexico and Brazil deepen strategic partnership across energy and trade

    Mexico and Brazil revive their Binational Commission, signing a Pemex‑Petrobras MoU for deep‑water energy projects and new education and science cooperation, while pledging mutual diplomatic support.

  5. about 2 months ago

    [BUSINESS] 3 sources
    Pemex and Brazil's Petrobras sign two‑year MoU for deep‑water cooperation

    Pemex and Petrobras sign a two‑year MoU for deep‑water projects, praised by Banamex but with no immediate investment commitment. Experts also advise Pemex to import light crude, following Brazil’s successful‐re

  6. about 2 months ago

    [BUSINESS] 2 sources
    Petrobras Pushes Ahead with Major Offshore Equipment Contracts

    Petrobras advances deepwater SEAP project with a R$ 3 bn bid for submerged trees and receives five new torpedo piles from Nuclep for offshore fields, meeting key 2026 milestones.

Sources

ajuaa.com · atgs.ch · batimes.com.ar · brasil247.com · brasildefators.com.br · economia.ig.com.br · elbuentono.com.mx · elceo.com · elestimulo.com · elfinanciero.com.mx · elsoldetampico.com.mx · en.mercopress.com · es.mercopress.com · estamosaqui.mx · europesays.com · expreso.com.mx · imprensabrasileira.com.br · institutoecofaxina.org.br · massinformacion.com.mx · metropoles.com · mexico-now.com · noticiaspv.com.mx · noticieroaltavoz.com · notiespartano.com · oilandgas360.com · orfonline.org · pausa.mx · perfil.com · petrobras.com.ar · petronoticias.com.br · polochampionship.com · primicia.com.ve · proactivo.com.pe · revistasonorasinaloa.com · sosergipe.com.br · technesstivity.com · tribuna.com.mx · ultimasnoticias.com.ve

This summary has been updated 4 times: see revision history