By Brazil Stock Guide – Azevedo & Travassos S.A. (B3: AZEV3), through its oil and gas subsidiary Heftos, has signed a contract worth R$1.76 billion ($312 million) with Petrobras (B3: PETR4; NYSE: PBR) for the engineering, procurement and construction (EPC) of two hydrogen generation units (U-4710 and U-4730) at the GasLub hub in Itaboraí, Rio de Janeiro.
The agreement was awarded to a consortium led by Heftos, holding 80% of the project, alongside Construtora Colares Linhares, with 20%. The works will cover executive design, procurement, construction, assembly, commissioning, and testing, with an execution timeframe of 40 months. Petrobras deemed the consortium’s proposal the most competitive in tender.
Comperj complex
The GasLub complex, built on the unfinished Comperj site in Itaboraí, is part of Petrobras’ multibillion-dollar push to boost refining efficiency, integrate gas and energy production, and diversify into new energy vectors such as hydrogen. The project underscores the growing role of domestic contractors like Azevedo & Travassos in Brazil’s industrial supply chain revival, even as international players eye opportunities in the energy transition.
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