Marine Technology Reporter Blogs - business

The system will connect Luanda in Angola, with Fortaleza in Ceará in northern Brazil and the u/w cable with have a capacity to transmit 40 terabits per second, or 40 trillion bits per second, which will greatly speed up trans-Atlantic media, O&G and general business connections. Eventually an extension of the cable will also reach Santos, on the coast of São Paulo and Miami. The initial project will have an investment of US$160 million, with another US$100 million destined to extra connections. This is the essence of the South Atlantic Cable System (SACS), which cable operator Angola Cables plans to install by 2015 or the beginning of 2016 in the region. According to company president Antonio Nunes, this will be the first u/w cable in the southern hemisphere linking Brazil to Africa.

A major opportunity for new business and new joint ventures was the prime result of the 2012 edition of the Rio O&G. Brazil’s National Petroleum Organization (Onip) believes the event may have been a catalyst for R$ 152,8 million (US$76,4 million) in new business for the next twelve months. A study made by Onip with companies present and the Rio O&G 2012 showed that 84% of these companies expected to undertake some for of new business opportunities in the near future. A total of 13 foreign and 17 local O&G companies negotiated to form joint ventures in the industry, of these 13 expect to close a deal on new joint ventures in the near future. These include local companies and companies from Canada, U.S, England, Argentina, Italy and France.