Petrobras is developing a new contracting approach for the Barracuda-Caratinga floating production, storage, and offloading (FPSO) unit, aiming to rejuvenate oil production at the declining Campos Basin field offshore Brazil. The initiative, led by Engineering, Technology, and Innovation Director Renata Baruzzi, marks a strategic shift as the state-run oil company seeks to increase efficiency, cut costs, and enhance its competitive position in the global energy market.

Declining Production Prompts Strategic Shift

The Barracuda-Caratinga field has long been a key asset in Petrobras’ portfolio, but falling output in recent years has prompted the company to rethink its operational model. The proposed changes to the FPSO contracting process are part of a broader strategy to revitalize production in the aging Campos Basin — one of Brazil’s most productive oil regions

Petrobras is assessing how best to integrate new technologies and optimize existing infrastructure to extend the life and output of the field. The company’s renewed focus on innovation reflects both the technical challenges of mature fields and the financial pressures of maintaining long-term production viability.

Under the revised approach, Petrobras plans to introduce a more flexible and collaborative contracting framework. This includes increased engagement with contractors and suppliers capable of delivering innovative solutions tailored to operational needs. According to the company, this shift is designed to streamline operations, improve safety, reduce environmental impact, and build a more agile supply chain.

The new model will also emphasize local content, with a priority on involving Brazilian companies and workers. Petrobras says this will help support domestic industry, strengthen ties with local communities, and reinforce the company’s social license to operate.

Technology at the Core of Transformation

The project is expected to leverage advanced technologies such as automation, digitalization, and artificial intelligence. Among the tools being considered are digital twins, real-time monitoring, and predictive maintenance systems all aimed at boosting asset performance and enabling faster, data-driven decision-making.

Renata Baruzzi, who is leading the initiative, is coordinating with internal teams and external partners to ensure technology integration aligns with the company’s broader innovation goals.

“Technology will be at the heart of this transformation,” a Petrobras spokesperson noted, emphasizing the company’s continued investment in research and development to support operational efficiency.

As Petrobras moves ahead with its plans, the revamped contracting strategy could set a precedent for other mature offshore fields in Brazil and beyond. By adopting a model that prioritizes flexibility, collaboration, and innovation, the company aims to extract greater value from existing assets while contributing to the sustainability of Brazil’s oil sector.

The outcome of the Barracuda-Caratinga FPSO project will likely influence future decisions about contracting and production strategies in similar offshore fields, particularly as global energy markets evolve and cost pressures persist.

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