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EDITORIAL
In this may edition, the 11th Bid Round with offshore blocks is on the spotlight. Brazil is back on the smart money investment radar screen. No pre-salt or non pre-salt bid rounds have yet been launched, but Government recently announced an RFP for seismic data survey in the pre-salt.
We are getting closer and closer to the doorsteps of these yet intriguing resources. Opportunities? Challenges? No pain, no gain…
Oilmen daydreaming about untapped mega reservoirs on the one hand, matter-of-fact pragmatics on the other worried about such unfathomable risks and challenges such as, among many others:
- Corrosion of subsea processing materials, subsea lines and risers stemming from contaminants in the pre-salt fluids;
- Technology for fracturing the risk at pre-salt reservoirs of less permeability;
- How to optimize drilling and coating operations in drilling the salt layer;
- Freezing of the pipes, how to improve the modeling of deposition of paraffin and optimize heating technology through eletrcical heating of the subsea lines;
- Fatigue in the risers, the installation of flexible lines and risers, considering the fluids and pressures of the operation could require special configurations, such as lazy waves and rigid riser decouplesd from the FPSO. Yet unknown: the performance of flexible risers over the long-term, especially in the case of injection risers, where pressure a the top are stronger;
- Dry completion – how to design production units that can operate as large capacity drill rigs capable of building deep wells in ultra-deep water and well distant from the shore, as well as store in ,locations where there are no pipelines;
- Unknown heat and pressure on columns - Other issues include the creation of the Brix for the energy sector, which will probably;
Insufficient seismic data for sub-salt layers of sand and salt – risk of semi-dry-holes, i.e., disappointing discoveries coming up at an absurdly high cost.
In parallel, Petrobras goes on rather timidly advancing on its shopping list, the 28-rig RFP was transferred to Sete Brasil S.A., a predominantly pension funds’ controlled SPE that will commission and own the ultra-deep water 28 rigs and be the contractor of Petrobras for its drilling campaign in the pre-salt.
Sete Brasil will have partners (not necessarily equity partners) as operators, and an equity participation of Petorbras worth 10% of their common stock, but even this could go to zero as Petrobras is only interested in the oil service agreements this structure will make feasible through a mix of deep-pocket-pension-funds’ money, special, almost custom made Government subsidized performance bonds, very inexpensive also quasi-subsidized financing.
Did I look critical in the above paragraph? Nothing farther from the truth.!
I think the creation of Sete Brasil was a brilliant move: solved a load of difficulties at the same time. Those who cherished criticizing the 28-rig program as megalomaniac, asking where the money would come from….here’s your answer.
And seven rigs were already awarded to Estaleiro Atlantico Sul - EAS. The rest will soon be allocated to the most able (and cheapest of course) among Brazilian shipyards and epcisits (yes, no foreigners, at least not as primary contractors…, which doesn’t mean that this 28-rig bonanza will not benefit foreign companies all over the globe: Samsung is a non-equity partner to EAS for example, and is already working on the vessels’s design).
Petrobras`s shopping spree will certainly accelerate in the third quarter. Items such as risers, pipes, manifolds and subsea installation material in general will be in high demand, as well as other floaters such as more semis, drill-ships, FPSOs, FSOs, LNG FSRU’s.
ENERGY
This month’s edition presents a very interesting study: our offshore wind power capability. Surprise, surprise! Go back in time, five years ago. Who would have said wind power would compete in price against hydroelectric-generated energy?
Who would have said we would now have SEVEN international manufacturers starting to build factories in Brazil?
Who would have said 60% national content was not that difficult to get?
Who would have foreseen over 1 GW worth of contracts been dispensed in a wind-power-only PPA bidding, without any kind of Government subsidies?
Nobody?
To his credit, Mauricio Tomalsquin would have said all that, but he was a lonely voice, and we were almost all wrong.
Good thing is: it is GREAT that we were all wrong and Mr. Tomalsquin was right.
And now he says…unsubsidized solar energy.
Let’s see five years from now. Make your bets, gents. I’ll team up with Mr. Tomalsquin this time.
It`s the economy, stupid! Country`s growing fast, energy is needed in ever greater scale. The economics of many things change, renewable energy included.
OIL & GAS
April was probably one of the busiest months in the Oil & Gas industry. Summarizing: the upcoming 11th Bid Round, yet to be scheduled; seismic surveys for the pre-salt to be engaged; discussion of important rules such as the Oil Spill Contingency Plan, as many other issues.
As usual, we appreciate your readership and hope you enjoy our newsletter as much as we enjoy preparing it.
PETROCHEMICALS
Our April edition also presents a study regarding the petrochemical sector.
CHINA
The Chinese coming strong, very strong. State Grid buys three high-voltage transmission companies at the same time. From zero to thousands of kilometers of in-operation transmission lines.
Watch out.
The Chinese charm offensive is more charming than ever: Sinopec, State Grid, Huawei, Foxcomm, ZTE, Kerui, CNOOC, CITIC, all carefully wrapped up in VEEERY cheap financing from the China Development Bank. Did I mention they lent Petrobras US$ 10 billion to be repaid in oil? Yeah, maybe, but did I mention they lent Venezuela, our rogue brother, US$ 30 billion???? Now, THAT’s money…. And more of these RMB turned USD turned R$ are coming our way.
Start learning Chinese, my frinds….VERY FAST!!! HEN KUAI!!!
SHIPPING AND OFFSHORE INDUSTRY
As very well put by GE: “Out of every three wells drilled offshore in the world in the next three years, one will be in Brazil. Hence, the country will be the most important market to supply equipment for oil rigs in 2013.”
Nothing to add…
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| ARTICLE |
| Oil & Gas FAQ from foreign services provider standpoint |
Recently we have been contacted by foreign companies reevaluating their strategies to enter into the Brazilian booming oil & gas marketplace. Concerns involve regulatory risks and certain idiosyncrasies permeating our industry practices.
As Barack Obama said during his speech in Rio de Janeiro, “for so long, Brazil was a nation brimming with potential but held back by politics, both at home and abroad. That day has finally come and it's time to seize it.” (This guy has gift for speeches, doesn’t he?).
So, starting today’s works, we are very cheerful to comment on our skyrocketing infrastructure, energy, oil and gas and shipping industries (look how unbiased we are). So much so that we decided to reproduce here our very optimistic answer to “frequently asked questions”.
There you go:
1 – In relation to Brazilian market, does an alliance with local companies make some difference?
Let me repeat two words three times: local content, local content, local content! Now let me repeat that in uppercase, bold face and two additional exclamation points: LOCAL CONTENT, LOCAL CONTENT, LOCAL CONTENT!!!
Starting from scratch: what is this local content stuff all about?
Oil companies are required to procure a minimum percentage of equipment and services from local suppliers.
The aim is obvious: development of a strong local petroleum offshore industry services and supply chain. Therefore, since companies such as Petrobras usually request overwhelming local content requirements on all contracts (ranging from 50% to 90%), establishing a local partner (rather than simply a sub-contractor) is a safe way to ensure that this local content commitment will be fulfilled at a reasonable cost (please don’t go to the supermarket haphazardly looking for local content: HAVE A PARTNER, STUDY THE MARKET, KNOW THE PLAYERS, HAVE A GOOD LOCAL PARTNER).
Look for local companies with an already established long-term relationship with Petrobras and other oil companies, with a track-record of successful operations and effective HSE programs. And off you go…
2 – We’ve read so much about the colossal reserves found by Petrobras. Why is it so important to work with Petrobras and how can my company be invited to participate in the upcoming Petrobras’s tenders?
We are living a special moment in Brazilian E&P activities. Brazilian new regulatory framework establishes that Petorbras will be the sole operator in all pre-salt exploratory blocks, PERIOD.
Therefore, in order to take a bite in this blue rump steak of oil, the service provider must interact directly with the blocks operator, which will be Petrobras in every single pre-salt block.
Firstly, and usually, in order to participate in projects with Petrobras your company must enroll with Petrobras Vendor’s List. After this procedure, your company will receive a Certificate of such Enrollment (CRCC – Certificado de Registro de Classificação Cadastral). Since we are talking offshore, you need to be in the Master Vendors’ List Offshore, known simply as MVLO. Get a guy who is an expert in CRCC, who can get you into MVLO and further into the shortlists of the hot, hot RFPs fast, I mean FAST.
The guy needs to be a real expert, able to get you registered in less than four months. The guy should also have a name starting with H, then followed by an E, double LL, another E, and an R: H-E-L-L-E-R. Again you can see I am totally unbiased in my recommendations.
Don’t forget to ask Heller how to boost your CRCC grades with chirurgical changes in your CRCC data if you already have one.
3 – Why would oil companies continue to operate in Brazil with this new regulatory framework that establishes Petrobras as sole operator of the pre-salt area?
This is a stupid question for someone that knows a little bit about the Brazilian oil and gas marketplace. 90% of the blocks are already operated by Petrobras. And even in the out-of-the-pre-salt areas I guarantee: there is no shortage of candidates to team up with Petrobras in the capacity of non-operators.
If the role of non-operator partner in a JOA were not appealing, they (I don’t know who) would not have invented it, would they?
Companies that are only seeking for a safe hub of oil supply (e.g. Chinese and Indian) dispense explanations. With several conflicts in Africa and Middle East, we suppose that many companies will reconsider their strategy as far as access to natural resources is concerned. WE ARE INVESTMENT GRADE! HELLO!
Further, several independents may also reevaluate their position due to the unexplored areas in Brazil, most notably the areas close to the "equatorial belt", which still remain under Concession regime and continue to be highly sought-after resources.
4 – What are the major setbacks to newcomers in the Brazilian market?
In our point of view, the major problem in Brazil rests in the market "KFC" (Known - Finding - Contract).
First, newcomers must be familiar with all rules related to their services: environmental, construction, labor, tax, etc. So, primary concern should be KNOWING BRAZILIAN RULES. For that purpose, it is important to have the appropriate legal counseling throughout the project development and assessment. Heller is not bad at this, but then again this is a 100% independent assessment.
Secondly, newcomers have to spread their influence, show their products, and present new technology solutions in order to find themselves a spot in this busy market. This involves a carefully elaborated marketing plan, several meetings, forging partnerships, R&D investments, to name few. So, the second relevant matter is FINDING YOUR PLACE IN THE MARKET. Since a local partner will expedite this process by some light years, add to this FINDING THE RIGHT PARTNER.
Finally, newcomers may only consider themselves inside the Brazilian market once they have a contract to endorse their efficiency and to show how successful are their services/products. Therefore, as we usually say, a company without any CONTRACT is not in the market. To have your CONTRACT, again, we advise: GOOD CRCC, GOOD LOCAL PARTNER. Heller can help with both, but, again, this is just my unbiased opinion.
5 – In your point your view, what did successful companies do to be well established in the Brazilian market in addition to the other remarks?
Newcomers to Brazil’s oil and gas marketplace are usually dismayed by what seems like an overly complex, heavily regulated and bureaucracy-prone legal system. Companies worry about corruption, and about securing their assets against unlawful seizure or nationalization.
These are somewhat far-fetched concerns in today’s Brazil, but understandable ones if we look at the country’s not-so-distant past, and at the Latin American neighborhood.
We are not in a position to comment on a strategic-financial view, however we do speculate that successful companies in Brazil probably established their good long-term relationship with Petrobras by showing their commitment with efficiency, customized solutions and technological approach.
Petrobras’s operations usually involve a lot of state-of-art technology. This is why companies must also be involved in Research and Development investments, to find exclusive solutions for the pre-salt exploration for an example.
Authors: Heller Redo Barroso and Marcos Macedo
As usual, we appreciate your readership and hope you enjoy our newsletter as much as we enjoy preparing it. |
Heller Redo Barroso
Founding Partner
Heller Redo Barroso & Associates |
Igor Tavares
General Manager for Latin America
The Energy Exchange |
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| ENERGY NEWS |
| Senate to Vote on Financial Issues of Itaipu Treaty
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In May, Senate is expected to validate and approve new financial bases for the Itaipu Treaty, increasing by three times the value paid by Brazil for the energy purchased from Paraguay's stake hydroelectric powerplant of Itaipu.
Brazil currently consumes around 90% of the energy from Itaipu.
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| Vale Joins Belo Monte Consortium |
On April 28, the Board of Brazilian mining company Vale approved the company's participation at the Norte Energia consortium, responsible for the construction of the 11,000 megawatts Belo Monte hydroelectric powerplant, the largest in currently in construction in Brazil.
The business will be carried out through the purchase of up to 9% of the SPE capital under control of Gaia Energia, belonging to the Bertin Group, and will involve around R$ 2,3 billion (circa US$1,5 billion).
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| Acquisition of Elektro Consolidates Iberdrola's Position in the Brazilian Marketplace |
On April 27, Iberdrola Group concluded the acquisition process of Elektro, a Brazilian company involved with energy distribution. The operation, valued at US$2,4 billion, consolidates the efforts of the Spanish group in Brazil, one of the key countries in its international expansion strategy.
Iberdrola has been active in Brazil since 1997, where it indirectly holds 39% of energy concern Neonergia, a giant in the fields of power distribution and generation. With the acquisition of Elektro, the group becomes one of the largest electric power companies in Brazil.
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| Vale’s Subsidiary Will Produce Biodiesel |
A subsidiary of Vale, the recently acquired Biopalma, will start producing biodiesel in Pará in 2013. The goal is that between 2013 and 2014 the company will be producing between 400,000 and 500,000 tons from palm oil. The majority of the oil will be used for producing biodiesel to be used in the furnaces and other projects that Vale has in the State.
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| Wind Energy Offshore Potential Exceeds 600 GW |
The potential for generating offshore wind energy off the Brazilian coast is more than 10 times greater than that on land. This is the result of an unprecedented study made by the National Institute for Space Research (INPE). The survey concluded that 3,500 GW of wind energy potential can be installed offshore in Brazil if its full Exclusive Economic Zone (EEZ) were used. The onshore wind energy potential is estimated to be 250 GW.
The next step for the researchers is to solve a model that takes into account climate forecast for the next few years, considering the variations forecast for wind patterns. Another area of research is to fine-tune the data to estimate how much of this potential can be effectively profitable.
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| AES Invests US$ 25 Million |
AES Eletropaulo invested R$ 40 million (US$25,5million) in two new automated substations: one located in the City of Osasco and the other in the neighborhood of Campo Limpo, in the south zone of São Paulo.
With the new installations, which have total capacity of 160 MVA, the distribution company will now have 149 substations. AES, which represents the largest Latin America energy distribution company, reported that the investments are part of a plan of capital expenditures of some R$ 3 billion (US$1.9 billion) through 2015.
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| Eletrobras Establishes Partnerships in China |
State-controlled Brazilian company Eletrobras, Latin America largest energy company (involved with power generation, transmission and distribution) and the state-owned Chinese company State Grid have signed a Memorandum of Understanding to share technical and sales management experience in the transmission and generation of electricity. The agreement was signed on April 13.
Eletrobras will have access to ultra high voltage transmission technology, which the Chinese have mastered, and anticipated the possibility of attracting foreign investment to its projects. State Grid hopes to expand its share in the Brazilian marketplace, participating in auctions for transmission lines.
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| Brix to Turnover US$ 47 billion |
Brix (Brazilian Intercontinental Exchange), the new platform for electric energy trade, is expected to start up operations in June and plans to have R$75 billion (US$ 47 billion) turnover per year in the energy businesses on the free market over the next three to five years. The aim is to triple the volume of negotiations carried out today of R$ 25 billion (US$15.6 million) by the 1,400 agents registered at CCEE (the Electric Energy Trade Chamber).
Brix, having as partners the International Exchange (NYSE: ICE), Eike Batista, Roberto Teixeira da Costa, Josué Gomes da Silva, and Marcelo Parodi, is opened for all participants of Free Hiring Environment (ACL) or open market. Free consumers, generation agents and traders can directly enter with their purchase and sale offers/bids, reducing the transactional costs incurred through agents.
In practice, contracts that today take days or even weeks to be signed could be closed in millionths of a second. As well as a reduction of time, the reduction of costs will also come about since the operation is all online.
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| New Rules for Energy Trade Go into Public Hearin |
The National Electric Energy Agency opened a public hearing to review the Normative Resolution 265/1998, which establishes procedures for the exercise of power trading activity on the open market.
The goal is to improve the rule to address the current needs of the market and legislation. The agency's proposal is that the revision of the standard will improve the mechanism, controlling the entry of new agents and reducing the breach of contract.
The intention is to make this system more efficient without creating difficulties for the entry of new suppliers.
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| Joint Venture between CPFL and ERSA |
CPFL Energia and ERSA Energias Renováveis announced the incorporation of CPFL Energias Renováveis, by means of the association of assets and projects owned by CPFL and ERSA, such being considered wind farms, small hydro power plants, and biomass thermoelectric power plants. CPFL Energia will be the major shareholder of the new company with 63.6% of the shares. Current shareholders of ERSA will hold 36.4% interest.
The new company, upon organized, will be one of the biggest companies in Latin America in the area of energy generation from renewable sources with 648 MW of operating installed capacity, of which 386 MW are under construction and 3,341 MW are under preparation for construction and development.
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| OIL & GAS NEWS |
| BG to Invest over US$70 Billion in Brazil |
BG estimates that the drilling of wells in the Guará and Lula fields will require up to US$70 billion over the next few years. According to the company, the full development will require 350 wells with an average cost of one well in the pre-salt region costing over US$180 million.
Petrobras and BG are now working to reduce the average time to drill wells in the pre-salt. The first well drilled took 400 days. Even though recent drillings dropped to 180 days, this still is too far from the oil companies’ goal.
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| Brazilian New Round in the Oven: 11th Round with 174 Blocks
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The National Energy Policy Council approved the scheduling of the 11th round of bidding of the National Petroleum Agency (ANP). The bidding will offer 174 exploratory blocks in nine sedimentary basins along the Brazilian equatorial margin.
The auction will focus on mature basins and new frontiers, excluding those areas close to the pre-salt region. It is the first auction held by the agency that will offer offshore blocks since the announcement of the discovery of the pre-salt cluster in the Santos Basin.
The National Counsel for Energy Politics (CNPE) also approved a policy for small and medium-sized producers of petroleum.
One of the innovations is that the companies may indicate interest in areas that will later be auctioned by the National Petroleum Agency (ANP).
11th Auction Highlights
A total of 122,000 km² will be offered in an exploratory area divided into 17 sectors.
The Foz do Amazonas Basin, so far without proof of commercial viability, will be the highlight of the bidding.
Another important area along the Brazilian equator margin will be the offer of 26 offshore blocks in the Barreirinhas Basin. Other offshore areas include: Ceará, Pará-Maranhão, Potiguar. Onshore, blocks in the Potiguar, Espírito Santo, Recôncavo, Sergipe and Parnaíba basins will be offered.
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| Petrobras Hits Oil in Pre-Salt Area
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Petrobras has made a new discovery of light oil in the pre-salt of the Campos Basin in the Albacora field. Preliminary estimates of the volume indicate that the potential volume economically recoverable is in the order of 350 million barrels of oil.
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| Premium II Refinery Receives Environmental License |
On April 27, the Ceará State Environmental Council (Coema) approved the technical opinion for the preliminary license for the Premium II refinery. The decision authorizes the State Department of the Environment (Semace) to issue a preliminary license for the project.
The Premium II refinery will have a refining capacity of 300,000 barrels/day and will cost around US$10 billion. The project will be installed in the Pecém Port Industrial Complex and is expected to be inaugurated in 2017. Back |
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| No Pre-Salt Frontier Problems at All |
Petrobras discarded the possibility that a failure discovered during the Guará LDT was caused by adverse operating conditions in the pre-salt frontier. Petrobras confirmed that the final technical opinion about the incident would be issued in May. The company’s technicians and the Engineering Department are conducting the investigations.
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| Gas Found in São Francisco Basin |
Petrobras reported to the National Petroleum Agency (ANP) the existence of traces of natural gas in the SF-T-112 block in the São Francisco onshore Basin in the State of Minas Gerais. The 1BRSA871MG well is being drilled by conventional rig 109 since April 7 and is scheduled to reach a final depth of 3,296 m.
The São Francisco Basin includes some 350,000 km², of which only 118,500 mil km² are currently under concession. It is one of the oldest sedimentary regions in Brazil.
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| Gas Market More Diversified |
The share of foreign oil companies in the production of gas from the pre-salt will reach 40% by the end of the decade, according to projections from the Gas Energy consulting group.
It is estimated that, in 2011, the British company BG, the Portuguese Galp/Petrogal and the Hispano-Argentine company Repsol will own 16.1 million m3/d of the volume produced on the new exploratory frontier. This volume is the equivalent of 28% of current total production of Petrobras.
Petrobras, in turn, will be responsible for the production of 24 million m³/d of gas from the pre-salt, 60% of the total volume estimated for the period. Although the oil company’s sovereignty will be maintained, it is expected that the market will be less concentrated by the end of the decade.
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| Petrochemicals Sector Leads Mergers |
A study by Dextron Management Consulting shows that the chemical and petrochemical sectors were those that had the greatest number of mergers and acquisition in Brazil in 2010. The sector accounted for 30% over the negotiations during the last year.
The survey shows that companies were mostly trying to expand their core businesses through horizontal expansion operations, which represented 63% of the transactions in 2010. In comparison with the previous year, there was an increase of 15.7% in these operations.
Although private equity operations as a whole reported a growth of 68.8% in 2010, indicating a tendency for investment on the part of the funds, the mergers and acquisitions for horizontal expansion corresponded to 52% of the operations
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HRT Americas Operating |
HRT America, with headquarters in Houston USA, began to operate on April 19. The subsidiary of the Brazilian oil company HRT Participações em Petróleo S.A. will be responsible for all technical questions of geology and geophysics of the company’s projects in Africa. HRT has concentrated its work in Namibia, where it has plans to drill in 2012.
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| Non-Compliance with Local Content Obligations Leads |
The National Petroleum Agency (ANP) has identified noncompliance problems with the requirement for local content proposals for 70 exploratory blocks from the fifth and sixth. The majority of the areas, 44, is under concession to Petrobras, but it also includes Shell, Repsol, and even smaller sized oil companies. Each case is being analyzed by the agency and the companies could be fined.
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| Seismic Data Auction for Pre-Salt Gets out of the Fridge |
The National Petroleum Agency (ANP) is preparing an auction for the acquisition and processing of 10,000 km² of seismic 3-D reflection data for the second semester of the year.
The campaign will cover an area in the pre-salt in the Northeast of the Libra area. The goal is to create an image of the areas beneath the layers of salt (pre-salt) and the foundation.
The companies interested in participating in the competition we’ll have to have proven experience in seismic surveys using 3-D reflection in ultra deep waters – water depths open within 400 m – in Brazil.
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| BG to Create R&D Network |
BG will be creating partnerships with Brazilian teaching institutions to develop new technology in the area of oil and gas. The objective is creating a multidisciplinary task force with local and international universities and suppliers to the petroleum sector.
The idea is to guarantee financing, encourage the education and training of human resources, and provide career opportunities for Brazilian researchers, whose projects will have greater visibility because of the relationships with internationally known research centers.
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| OGX Seeking US$ 2 Billion |
OGX could obtain some US$2 billion in the market to guarantee its investments for next year. The information was disclosed by the general manager of the oil company, Paulo Mendonça, who participated on April 18 in a conference call with market analysts.
The company is expected to issue bonds rather than to dilute its share base. OGX also is in a farm-out process of up to 10% of its assets in the Campos Basin. The idea is to use the funds to capitalize future campaigns.
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| Petrobras-China Alliance Forged |
On April 15, José Sérgio Gabrielli, Petrobras CEO, signed in Beijing two cooperation agreements for business and technology with the Chinese State companies Sinopec and Sinochem.
With Sinopec the Brazilian company made a technological cooperation agreement to exchange knowledge in the areas of geophysics, geology, and oil reservoir engineering.
With Sinochem an agreement was made for strategic cooperation in order to identify and seek out opportunities of business in the areas of production, exploration and commercialization of oil and the recuperation of mature fields.
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| Sinopec in the Equatorial Margin |
Sinopec closed with Petrobras, during the visit of President Dilma Rousseff to China, a farm-in in the exploratory blocks in the Pará-Maranhão Basin located in the Brazilian equatorial margin. Sinopec will have 20% participation in the two areas.
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| SHIPPING AND OFFSHORE INDUSTRY NEWS |
| Wood Group Seeks O&M Consulting |
The Brazilian division of Engineering and Production Facilities of the Wood Group expects to increase its activities in operation and maintenance, commissioning and consulting for the oil and gas industry in the country. Through the conclusion of the acquisition of service provider PSN, the tendency is that this division also will dedicate itself to activities aimed at developing mature fields.
With regard to consulting services, the idea is to support maintenance engineering project as well as to assist in compliance with operating procedures and the preparation of the required documentation.
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| GE: 1/3 of Offshore In Brazil |
Out of every three wells drilled offshore in the world in the next three years, one will be in Brazil. Hence, the country will be the most important market to supply equipment for oil rigs in 2013. This announcement was made by GE.
According to GE, the potential of the Brazilian market was one of the reasons for the acquisition of the British manufacturer Wellstream. Also, GE did not discard the possibility that GE will continue to invest in new installations in Brazil.
The research center that the company will have in Rio de Janeiro will focus on more resistant materials for operations in ultra deep waters. Other priority areas are pumping and energy distribution on the seabed and automation and remote control of the oil rigs.
In the industrial area, the company also is contemplating installation of a local factory for the manufacture of turbo compressors, beginning with packaging and successively adding to the production turbine accessories and internal components.
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| OGX Is After a New Drill Rig |
OGX is already on the market with a tender to contract the charter of a new onshore drilling rig for campaigns in the Parnaíba Basin, where the company intends to drill 15 wells through 2013. The oil company is presently working with two rigs in the region, where it has the concession of seven exploratory blocks.
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| Petrobras Maps Units |
PhDsoft is to finish this year the modeling of 70% of the marine units of Petrobras to use in a structural maintenance software. The tool can anticipate faults through wear in the structure of the steel hulls of ships and platforms coming from the data collected during regular inspections.
By the end of 2012, all the units of Petrobras should have been modeled for the use of the tool.
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| New Tender for Drill Rigs |
Petrobras is going to launch in May a new tender for the charter of drilling rigs to substitute the recently canceled process. The idea is to contract one or more units with a dynamic positioning system (DP) for drilling in water depths of up to 1,500 m.
The E&P area should make some of the requirements more flexible to avoid high priced proposals as in the previous process, which varied from US$ 450,000 to US$ 583,000.
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| Sanko AHTS Nabs Brazilian Job |
Sanko Steamship of Japan appears to have landed a spot fixture for one of its anchor-handling tug supply (AHTS) vessels in Brazil.
Brokers say Rio de Janeiro-based Odebrecht Óleo e Gás has picked up the 12,236-bhp Sanko Beauty to help move the semi-submersible drilling rig Norbe VI off Brazil. The contract is expected to run between one day and a week, with the rate at $40,000 per day.
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| GW Freight Management Brazil |
In order to invest in generating new demands in terms of supply chain both air and sea, the freight management company GW Freight Management Brazil opened a new office in Rio de Janeiro. With the transaction, GW expands its revenue estimates between 30% and 40% in Brazil.
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| Sources: Reuters, Energia Hoje, Brazil Energy, TB Petroleum, OGlobo, Upstreamonline, Rigzone, Bloomberg, Petrobras Agency, |
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