$800m contract for SLB to provide services to Brazilian offshore fields for Petrobras

Brazil's Petrobras has awarded an $800 million contract to oilfield services provider SLB (formerly Schlumberger) for integrated services across all offshore fields operated by the state-run oil firm in the country, said SLB on Wednesday.

SLB will oversee the construction of more than 100 deepwater wells, the firm said in a statement, as part of Petrobras' plans to revitalize already productive fields and explore new areas.

"This investment of approximately $800 million will allow us to intensify our activities in several basins, revitalizing already productive fields and exploring new areas, with new technologies, with a focus on making our operations even safer and more efficient," said Wllisses Menezes Afonso, Executive Manager of Wells at Petrobras.

The three-year contract, set to start in April, will see the firm providing services mainly in the Campos, Santos, and Espirito Santo basins, said SLB.

Operations in Brazil's so-called Equatorial Margin are also planned, said SLB, if Petrobras obtains a long-sought license to explore there during the contract period.

Petrobras has recently increased the amount it plans to invest in exploration and production as it seeks to replenish its reserves, with its strategic plan for the 2025-2029 period earmarking $77 billion for EP activities.

(Reporting by Fabio Teixeira; editing by Diane Craft)