Marine Technology Reporter Blogs - partnership

The amount of new O&G related companies coming to Brazil continues growing and Norwegian companies are some of the most active in this respect. Innovation Norway, which is run by Norway’s Commercial Affairs Office at the Norwegian Consulate in Rio, has been highly supportive to Norwegian companies seeking to set-up in Brazil. NCE NODE, has a joint network project and is a Norwegian center of excellence, which has helped 25 companies to prepare for entry into the Brazilian offshore market. The network has now split into two. One network with four companies has already decided to establish a jointly-owned business in Brazil. The other network of eight companies are establishing a type of marketing network that is currently negotiating with companies in Brazil that can represent them.

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.