Petrobras Taps Halliburton & SLB for $328M Buzios Contracts

Petróleo Brasileiro S.A. - Petrobras (PBR) has awarded Halliburton Company HAL and Schlumberger Limited SLB well services contracts worth a combined 1.8 billion reais ($328 million) for Brazil’s Buzios pre-salt field. The two contracts are designed to meet the demand for the acquisition of intelligent hydraulic completion for up to 18 development wells between 2026 and 2028.Strategic Win for Oilfield Service LeadersFor Halliburton and Schlumberger, these awards mark a significant foothold in Brazil’s expanding oil and gas sector. Halliburton has been growing steadily in Latin America, while Schlumberger continues to leverage its technological edge and integrated services to secure global contracts. Both firms will provide key well completion services, such as cementing, pressure pumping and well intervention, vital for deepwater operations like Buzios.Significance of the ContractsThe contracts highlight the rising demand for well completion services in Brazil, fueled by expanding exploration and production across the country’s pre-salt fields. For Halliburton and Schlumberger, the awards are expected to lift earnings and provide timely revenue support amid volatile oil prices and the cyclical nature of oilfield services.Driving Growth at Brazil’s Largest Oil FieldPer the latest development, Petrobras, currently sporting a Zacks Rank #1 (Strong Buy), recently achieved record production of 900,000 barrels per day at the Buzios field, one of Brazil’s most prolific oil reserves. The company currently operates six floating production, storage and offloading (“FPSO”) units at the field, with a seventh unit expected online by year-end. By the time the Halliburton and SLB contracts take effect, an additional four FPSOs are scheduled to begin production, further strengthening output.You can see the complete list of today’s Zacks #1 Rank stocks here.Challenges and Opportunities AheadWhile the contracts present major growth potential, executing them will not be without hurdles. Deepwater operations carry significant technical and environmental challenges and compliance with Brazil’s regulatory framework will be essential. Even so, the agreements underscore the importance of the Buzios field in meeting Brazil’s rising production goals and highlight the role of leading service companies in unlocking its full potential.One Big Gain, Every Trading DayTo help you take full advantage of this market, you’re invited to access every stock recommendation in all our private portfolios - for just $1.Zacks private portfolio services that closed 256 double and triple-digit winners in 2024 alone. That’s about one big gain every day the market was open. Of course, not all our picks are winners, but members have seen recent gains as high as +627% +1,340%, and +1,708%.Imagine how much you could profit with a steady stream of real-time picks from all our services that cover a number of strategies to suit a variety of investing and trading styles.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Schlumberger Limited (SLB): Free Stock Analysis Report Halliburton Company (HAL): Free Stock Analysis Report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks