Marine Technology Reporter Blogs - odebrecht

As deepwater O&G discoveries abound up and down the coast in Brazil and as the early pre-salt discoveries begin to produce, along with other post-salt deepwater discoveries. All three main Basins; Campos, Santos and Espirito Santo are seeing a marked increase in pipe laying by all super major players involved in the development of deepwater plays in Brazil. There has also been an increase in custom deepwater pipe and flowline manufacturing and in the acquisition and leasing of pipelaying vessels for the Brazilian oil frontier. The newest order announced is for the supply of electrical power systems and energy efficient propulsion systems for two deepwater pipe laying vessels with the total order value being $18 million. Daewoo chose ABB to supply these systems.

Continuing the influx of foreign investments in Brazil´s O&G market, that has attracted investment groups from Europe, North America and Asia. Singapore state investment holding Temasek has recently acquired shares from Brazil´s Odebrecht Oil & Gas (OOG).Negotiations to conclude the deal have been going on for five months and the final agreement has been drawn whereas Temasek bought 14.3 % of OOG for $400 million. OOG´s main interest in the partnership was to attract capital in order to increase its international presence and expand it deepwater drill rig construction program in Brazil. OOG hopes that the new partnership will help it secure the $3.5 billion in investments it that planned for 2011-2013.