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Category: Last News
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News has a new home
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CMM Velocity begins operations under four-year Petrobras charter
CMM Offshore has announced the start of operations of the FOSRV CMM Velocity under a four-year Petrobras charter, marking the vessel’s return to service following the agreement announced earlier this year.
The CMM Velocity is a Fast Oil Spill Response Vessel dedicated to environmental emergency response and oil spill prevention, supporting Petrobras’ offshore contingency strategy.
The operation will also incorporate drone-based monitoring to strengthen environmental response capabilities, adding another layer of surveillance and operational support to the vessel’s scope.
With the vessel now back in operation, Petrobras expands the availability of dedicated oil spill response assets supporting its offshore activities
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Por Onde Anda? MPSV Lagunero
Built for high-complexity campaigns and multipurpose support, the high-spec Mexican asset faces its most turbulent period yet, far from the offshore fields she was expected to serve and under judicial custody in Guanabara Bay.
The Vessel
The MPSV Lagunero (IMO 9761736) was delivered in 2018 as one of the modern centerpieces of the Mexican offshore support market. Designed as a high-spec Multipurpose Support Vessel, the 85-meter asset combines offshore support capability with accommodation for up to 197 personnel.
Powered by a diesel-electric propulsion system and equipped with DP2, a 100-ton main crane and accommodation for up to 197 personnel, the vessel was designed for complex offshore campaigns, including floatel operations.
The route to Brazil and the labor crisis
Flying the Mexican flag and managed by the Marinsa group, the vessel crossed the Atlantic intending to support Petrobras’ offshore operations as a floatel. However, the expected campaign never materialized, and the vessel soon became the centre of one of Brazil’s most significant labour and judicial disputes involving an offshore support vessel.
In April 2026, an inspection carried out by Brazil’s Labor Inspection Secretariat revealed that the crew, mostly composed of Mexican nationals, was facing a critical situation of abandonment. The crew had gone more than 90 days without receiving salaries while operating under severe shortages of fuel, food and other essential onboard supplies.
The institutional response was swift. The Regional Labor Prosecutor’s Office of Rio de Janeiro (MPT-RJ) filed an urgent Public Civil Action against Marinsa de México, its Brazilian subsidiary, local partner entities and the international P&I insurer British Marine.
In May 2026, the 23rd Labor Court of Rio de Janeiro issued an injunction ordering the payment of approximately BRL 3.07 million in outstanding wages, alongside the immediate supply of fuel and provisions and the assisted repatriation of the affected crew members.
Today, Lagunero remains moored at Renave Shipyard in Niterói (RJ), where she continues under judicial arrest. Public AIS records continue to place the vessel at the shipyard, with no indication that she has returned to commercial service.
Next thursday, another vessel. Another story. Another chapter of Por Onde Anda?
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Atlantic Star arrives at Mauá shipyard
The semi-submersible Atlantic Star arrived in Guanabara Bay today under tow by the AHTSs Valletta and Xavantes and is expected to berth at Estaleiro Mauá S/A following the completion of its workover campaign for Karoon Energy at the Baúna field.
The timing is significant.
Constellation’s contract with Karoon covered a one-well heavy workover campaign, while Karoon has since confirmed that the intervention on the SPS-92 well was successfully completed, restoring production to approximately 8,600 barrels of oil per day. The Atlantic Star’s arrival at Mauá comes immediately after the conclusion of that campaign, marking the end of its latest operational assignment.
The market is already watching Trident Energy as a possible next destination for the Atlantic Star. While no public contract award has been announced, Constellation Oil Services’s latest investor presentation places two developments side by side: the completion of the Karoon campaign and an open demand from Trident Energy for an anchor-moored drilling unit with start-up expected in 2027. Although the company does not explicitly connect the two, the sequence has naturally attracted the market’s attention.
The movement is public. The context is on WSB.One. Contact us for full access.
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Vast: new take-or-pay agreement
Another take-or-pay agreement puts Brazil’s offshore logistics in the spotlight
On July 7, WSB Advisors analyzed the first take-or-pay agreement between Vast Infraestrutura and Petrobras, highlighting the role of long-term contractual structures in Brazil’s crude oil export logistics.
Less than two weeks later, Vast announced the renewal of its take-or-pay agreement with PETRONAS Brasil until the end of 2027.
The two agreements involve different operators, but the same logistics infrastructure and the same contractual model.
Take-or-pay agreements guarantee payment for a minimum contracted capacity regardless of actual throughput. For terminal operators, they provide greater revenue predictability. For oil companies, they secure long-term access to export infrastructure while improving operational planning.
On its own, the PETRONAS renewal is a straightforward commercial announcement. Alongside the agreement signed with Petrobras earlier this month, however, it adds another example of the same contractual model being adopted at the T-Oil terminal.
The two agreements involve different operators but share the same logistics infrastructure and the same commercial structure. Together, they place two separate long-term commitments side by side at a terminal that plays a central role in Brazil’s crude oil export chain.
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Building intelligence, not noise – A Data-Centric Approach to AI
There is a very common belief about artificial intelligence that goes against everything I learned over the last few months working with data: that what matters is the model.
That the secret is choosing the right LLM, the newest architecture, the most sophisticated fine-tuning.
It is not.
What research has already shown
Andrew Ng, co-founder of Google Brain, former chief scientist at Baidu and professor at Stanford, has been saying this publicly for a few years. In his words: “If 80% of our work is data preparation, then ensuring data quality is the most important work of a machine learning team.”
That is not an opinion. It is a conclusion from someone who built some of the largest AI systems in the world.
A Landing AI experiment makes this even clearer. A company wanted to use computer vision to detect defects in steel plates. The baseline accuracy was 76.2%. An AI team spent two months trying to improve the model. The result: zero improvement. Ng’s team then tried a different approach, focused entirely on the quality of the training data. In two weeks, accuracy went up to 93.1%. Almost 17 percentage points. Without changing a single line of the model.
MIT formalized this approach in a full course: Introduction to Data-Centric AI. The main argument is simple: in the real world, data is not fixed. You can and should engineer your data just as much as you engineer your model.
What I saw happen in practice
Working on the development of WSB.one, a market intelligence platform for the offshore sector, the theory became reality very quickly.
The Brazilian maritime market has a lot of public data: chartering records at ANTAQ, regulatory decisions, vessel movements, corporate structures. All published. Almost nothing connected.
Building scraping pipelines with Python and Django to collect this information was challenging. Many sources were hard to access, each portal with its own behavior, its own structure, its own obstacles. But the real work was not collecting.
A.I (Source: ChatGPT) It was in turning raw data into something with real quality.
Standardizing vessels names that appear in different forms across different databases. Reconciling corporate entities that are split across records. Identifying when the same information, from different sources, tells contradictory stories. That is the work no model solves on its own, and it determines whether the final result is intelligence or just well-formatted noise.
What this means for those using AI today
If you are implementing AI in your company and the results are not coming, the answer is probably not in changing the model. It is in the data you are feeding it.
A few questions worth asking before any change in architecture:
Is the data consistently formatted, or does each source follow its own logic? Are there inconsistencies between sources that the model is trying and failing to reconcile? Is the data you have representative of the real problem, or is it just the easiest data to collect?
The Data-Centric AI approach does not ask you to ignore the model. It asks you to stop treating data as a detail to be fixed later.
The model is a tool. Data is the raw material. And no tool, no matter how sophisticated, turns bad raw material into a good result.
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Constitutional Insights #3
Oil, Natural Gas and Other Fluid Hydrocarbon Royalties
under Brazilian LawThe Brazilian Supreme Federal Court (STF) held hearings on May 6 and 7 regarding the Direct Actions of Unconstitutionality (ADIs) 4916, 4917, 4920, 4918, and 5038, respectively filed by the Governors of the States of Espírito Santo, Rio de Janeiro, and São Paulo, the Board of Directors of the Legislative Assembly of the State of Rio de Janeiro, and the Brazilian Association of Municipalities with Maritime, River, and Land Oil and Natural Gas Loading and Unloading Terminals (ABRAMT). The cases, reported by Justice Cármen Lúcia, challenge amendments introduced by the Royalties Law (Law No. 12,734/2012).
Luis Fernando Priolli (Source: Private Collection) This law seeks to amend Laws No. 9,478 of August 6, 1997, and No. 12,351 of December 22, 2010, in order to establish new rules for the distribution among the entities of the Federation (Federal Government, States, and Municipalities) of royalties and special participation fees arising from the exploration of oil, natural gas, and other fluid hydrocarbons (“Oil Royalties”), as well as to improve the regulatory framework governing the exploitation of these resources under the production-sharing regime.
During the 1987–1988 Constitutional Assembly, the constituent legislators established that oil and its derivatives would be subject to a special ICMS tax regime. In other words, ICMS would not be collected in the producing state (at the origin), but rather in the destination state (where consumption occurs), contrary to the general taxation rule.
Since this would clearly cause losses to producing states and municipalities, the 1988 Federal Constitution (“CF/88”) guaranteed financial compensation for exploratory activities to producing states and municipalities, municipalities affected by exploration activities, and municipalities adjacent to offshore production areas, as provided in Article 20, Paragraph 1 of the Constitution, through Oil Royalties and special participation fees on oil and natural gas exploration.
To properly understand the intended purpose of this so-called financial compensation, it is important to analyze the records and debates of the 1987–1988 National Constitutional Assembly, the prevailing interpretation of the STF and constitutional legal doctrine.
Under the general ICMS interstate taxation rule, taxation normally benefits the state of origin. However, in the case of oil and its derivatives, the decision was made to tax consumption at destination (currently Article 155, Paragraph 2, Item X, “b” of the Constitution). This removed revenue from producing states. As a political and financial counterpart, the mechanism provided in Article 20, Paragraph 1 was created.
In the judgment of Writ of Mandamus No. 24,312/DF before the STF, reported by Justice Ellen Gracie on December 19, 2003, Justice Nelson Jobim — who had also served as a constituent federal congressman and played a key technical and political role in drafting the final constitutional text — provided the following historical reconstruction of the negotiations held during the Constitutional Assembly, describing the political agreement concerning ICMS and royalties:
“There was extensive discussion during the Constitutional Assembly as to whether ICMS should be levied at origin or destination. An issue arose involving electricity and oil. Oil-producing and electricity-producing states intended to maintain ICMS collection at origin. São Paulo, naturally, preferred destination taxation because it is a consumer state. The political solution was as follows: ICMS collection was removed from the origin state and financial compensation was created for producing states. That is how Paragraph 1 of Article 20 of the Constitution came into existence.”
In another portion of the same debate, Jobim added:
“It was established that ICMS would not apply to operations involving oil, including lubricants, liquid and gaseous fuels derived therefrom, and electricity destined for other states. In other words, ICMS incidence was removed from origin. Thus, the following solution was adopted: ICMS was removed from origin and states were granted financial compensation for the loss of such revenue.”
And further:
“I am attempting to reconstruct the historical issue of the Constitutional Assembly. This is not federal revenue that the Union is generously transferring to the states; rather, it is revenue originally belonging to the states, as financial compensation for the exploitation within their territories of an asset not subject to ICMS.”
Nelson Jobim (Source: Elza Fiuza/Agência Brasil) The principal purpose of this constitutional provision was therefore to compensate producing states for the loss of tax revenues caused by destination-based ICMS taxation on oil. However, because the constitutional text also incorporated the idea of “compensation for the impacts and risks of exploration,” it opened the possibility of including environmental, infrastructure, and socioeconomic impacts and risks within its scope.
Thanks to the expression “financial compensation,” it also became legally acceptable to associate royalties with (a) territorial degradation; (b) environmental risks; (c) pressure on public services; and (d) the finite nature of natural resources.
Although the STF did not establish a binding precedent in this judgment stating that royalties exist exclusively to compensate for ICMS revenue losses, the Court formally recognized in MS 24.312 that royalties have the constitutional nature of “participation” or “financial compensation,” and that they originally belong to the beneficiary states and municipalities.
STF (Source: Gustavo Moreno/STF) The summary of the judgment itself also references another rationale based on compensation for the economic, social, and environmental damages resulting from oil exploration activities.
Historically, therefore, the issue may be summarized as follows:
- During the 1988 Constitutional Assembly
- The predominant political purpose was to compensate for the loss of ICMS revenue at origin;
- Especially for Rio de Janeiro and other producing states.
The constituent debates consolidated the political solution later reflected in:
- Article 155, Paragraph 2, Item X, “b”
- ICMS on oil and electricity would be levied at destination; and
- Article 20, Paragraph 1
- Financial compensation/participation for resource exploitation.
It is precisely because of this connection that Justice Jobim stated that “Article 20, Paragraph 1 must be read together with Item X of Article 155.”
- In subsequent legal developments
- The thesis of compensation for the environmental, economic, and social impacts of exploration activities also became consolidated.
- Therefore, royalties today have a dual foundation
- A federal-taxation rationale; and
- An environmental/economic compensatory rationale.
This point became especially important in later disputes concerning the redistribution of pre-salt oil royalties, when producing states argued that the Constitution had established a specific federal pact in exchange for the loss of ICMS revenues. This understanding supported Justice Cármen Lúcia’s vote declaring unconstitutional the law that altered the rules governing the distribution of oil royalties, on the grounds that Law No. 12,734/2012 went beyond a mere revision of percentages and ultimately disrupted the federal balance by changing which entities are entitled to the financial compensation provided for in the Constitution.
Cármen Lúcia (Source: Antonio Augusto/STF) - During the 1988 Constitutional Assembly
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Maria Ciriaco: energy that welcomes, organizes, and connects
Even before the computers are turned on and activity begins in WSB’s Advisors office in downtown Rio de Janeiro, Maria Ciriaco is already at work. As an Administrative Assistant, she is consistently the first to arrive, helping prepare the environment for another productive day.
Her role, however, extends far beyond organizing spaces. Maria helps create an atmosphere of warmth, care, and well-being that has become part of the company’s identity.
Originally from Nova Russas, a small town in the state of Ceará, Maria left her hometown in 2002. Alongside her family, she traveled nearly 2,500 kilometers to Rio de Janeiro in search of new opportunities. Her story reflects that of thousands of Northeastern Brazilians who built new lives far from home while never losing touch with their roots.
Nova Russas, Maria’s hometown (Source: Courtesy of Nova Russas City Hall) Now 37 years old, Maria carries with her fond memories of a childhood spent under the care of her grandparents, Francisco and Zulmira. Among games, open spaces, and climbing trees, she discovered a passion that today also contributes to her livelihood.
“I have many memories of Ceará. I was raised by my maternal grandparents. I had a privileged childhood—surrounded by animals, plenty of room to run, and trees to climb. But making cheese and sweets with my grandmother was one of my favorite activities,” Maria recalls.
It was alongside Mrs. Zulmira, in the late 1990s, that Maria first learned about cooking. What began as a family tradition evolved into a skill admired by everyone around her. At WSB, her homemade treats have become part of everyday life. From sandwiches affectionately called internally as “Mac Mary” to cakes and desserts with or without sugar, her recipes help energize meetings, events, and visits from guests.
“I don’t have a favorite type of recipe. I simply enjoy exploring new ones. New challenges motivate me. Beyond being a hobby, cooking represents a life transformation for me. Above all, it is rewarding to see people appreciate and praise the dedication I put into everything I make,” she says.
In 2026, Maria celebrates two years with WSB Advisors. Alongside Camila Lopes and Vilma Fernandes, she contributes to the company’s facilities management, helping oversee workplace organization, visitor reception, employee support, and the infrastructure required for the daily operation of the office and corporate events.
Her professional journey includes experience as a receptionist, waitress, store manager, and sushi woman. Each stage helped develop qualities that define her presence today: attention to detail, a service-oriented mindset, and the ability to make people feel welcome.
The mother of four-year-old Bento, Maria balances her time between work, family, fitness, and leisure. She enjoys watching cartoons with her son while sharing a bowl of popcorn and also follows series such as “The Mentalist”, “Yellowstone”, and “S.W.A.T.”
Maria and Bento (Source: Private Collection) “I have my challenges and my dreams, such as moving out of a rental home and into a larger house. But when I reflect on my life, I sometimes feel privileged. I have the most important things: health and the energy to wake up every day at 4:30 a.m., exercise, and work.”
At WSB, Maria represents something that is difficult to measure through reports or performance indicators. Her work helps keep everything running smoothly, but her greatest contribution may be her ability to transform simple gestures into meaningful experiences. Whether welcoming a visitor, preparing a cup of coffee, or introducing a new recipe, she turns dedication into a way of caring for people—and that, every day, helps power the company’s energy as well.
Maria Ciriaco at WSB Seminar 2024 (Source: Klésio Abel) -
Kongsberg Maritime to acquire Berg Propulsion
Kongsberg Maritime has announced an agreement to acquire Sweden-based Berg Propulsion, in a move aimed at expanding its integrated propulsion portfolio across a broader range of commercial vessel segments. The deal brings together two propulsion specialists with highly complementary portfolios, combining Kongsberg Maritime’s advanced solutions for high-performance vessels with Berg Propulsion’s established position in merchant vessels, product tankers and other volume ship segments.
According to the company, the acquisition will broaden its ability to deliver complete propulsion and electrical systems while strengthening lifecycle support through a larger global service network. Berg Propulsion is a leading supplier of controllable pitch propellers, thrusters and integrated propulsion systems, with an installed base of approximately 4,000 vessels worldwide.
Following completion, Berg Propulsion will continue operating as a separate brand within Kongsberg Maritime’s Propulsion & Handling division, preserving its existing organization while benefiting from Kongsberg Maritime’s global scale and aftermarket capabilities. The combined portfolio will cover controllable pitch propellers, thrusters, hybrid and electric propulsion systems, and integrated vessel control solutions.
The transaction reflects a broader trend in the maritime industry, where shipowners are increasingly seeking integrated propulsion packages that combine mechanical equipment, electrical systems, automation and lifecycle services. As efficiency, emissions reduction and total cost of ownership become increasingly important investment criteria, equipment suppliers continue expanding their portfolios through strategic acquisitions, broadening their integrated offerings across the vessel lifecycle.
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Starnav signs Rolls-Royce agreement for new hybrid offshore fleet supporting Petrobras
Starnav has signed an agreement with Rolls-Royce to supply 40 mtu 16V 4000 M33S engines for ten new hybrid offshore support vessels contracted by Petrobras. Announced on July 9, 2026, the agreement marks another step in the renewal of Brazil’s offshore support fleet, combining larger vessels, long-term charter contracts and lower-emission technologies for offshore logistics.
The package includes six Platform Supply Vessels (PSVs) and four Oil Spill Response Vessels (OSRVs), supporting Petrobras’ offshore logistics and oil spill response operations under 12-year charter contracts. The vessels will feature hybrid diesel-electric propulsion with integrated battery systems and mtu engines compliant with IMO Tier III standards, reducing NOx emissions while improving fuel efficiency.
The project is expected to reduce greenhouse gas emissions by around 20% compared with Starnav’s current fleet. The reduction reflects not only the adoption of hybrid propulsion but also the combination of modern engines, battery integration and more efficient vessel designs, as offshore operators continue investing in lower-carbon support fleets.
The newbuild program is valued at approximately R$ 2.5 billion, with financing support from Brazil’s Merchant Marine Fund (FMM). The vessels are being built at Detroit Brasil Shipyard and are scheduled to enter service between 2026 and 2028, highlighting the FMM’s continued role in supporting fleet renewal while enabling Petrobras’ long-term charter strategy.
Another notable feature of the program is the increase in vessel deadweight. The new units are expected to offer around 5,500 tonnes of deadweight, compared with approximately 4,500 tonnes across much of Starnav’s existing PSV fleet. Beyond increasing cargo capacity, the larger design offers greater operational flexibility and can improve transport efficiency by carrying more cargo per voyage while benefiting from hybrid propulsion and next-generation engines.
For Rolls-Royce, the agreement further strengthens the presence of its mtu propulsion systems in Brazil’s offshore support market, where fleet renewal is increasingly driven by efficiency and environmental performance requirements. For Starnav, the investment expands a fleet designed to support Petrobras’ offshore operations with modern vessels combining higher cargo capacity, hybrid propulsion and compliance with the latest emissions standards.
Taken together, the project reflects broader trends shaping Brazil’s offshore support market: larger vessels, hybrid propulsion, longer charter periods and continued investment in fleet modernization to meet both operational and environmental requirements. With deliveries scheduled between 2026 and 2028, the new fleet will become part of Petrobras’ long-term offshore support infrastructure.
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Energy Talks # 19 – Rogério Ibrahim
In a period marked by the expansion of offshore activity in Brazil, driven by pre-salt developments, new oil discoveries, and growing discussions surrounding the Equatorial Margin, the drilling segment has once again moved to the forefront of the oil and gas industry. Despite its strategic importance to the offshore chain, drilling remains a topic that is rarely explored in depth within industry discussions. A gap that One.Energy magazine aims to address in this edition of Energy Talks. For the first time, the interview series dedicates an extensive and exclusive conversation to the drilling market in Brazil, covering operational challenges, technological innovation, competitiveness, safety, ESG, and market outlook.
To open this discussion, we spoke with Rogério Ibrahim, CEO of Foresea, one of the leading references in offshore drilling in Brazil. Since the company’s foundation, Ibrahim has led a business that has distinguished itself through operational excellence, the development of pioneering technologies, and the continuous utilization of its entire fleet in a highly competitive market shaped by major international players.
During the interview, the executive discusses groundbreaking projects developed by Foresea, including innovative solutions designed to enable the safe operation of drillships in shallow-water environments. He also addresses the impacts of the current geopolitical landscape on the industry, analyzes the momentum of Brazil’s oil and gas sector, and comments on the challenges of developing new talent for the drilling market. Ibrahim further shares his views on leadership, innovation, and Foresea’s long-term vision, offering a comprehensive perspective on one of the most strategic segments of Brazil’s offshore industry.
Rogério Ibrahim, Foresea’s CEO (Source: Bruno de Lima/Foresea) The name “Foresea” combines the concepts of forecasting and the sea. With that in mind, how does this ability to anticipate translate into the company’s strategy?
The name Foresea was intentionally created to combine the idea of forecasting with the sea, reinforcing our ability to anticipate scenarios and adapt in order to deliver the best solutions in the maritime environment. That capability is built, first and foremost, on knowledge. Foresea has teams with more than thirty years of experience in the sector, and that experience translates into accumulated expertise and analytical capability. We are a company focused on solving our clients’ demands through innovation and operational excellence. This is reflected in our knowledge base, our ability to project scenarios, and our capacity to strategically plan our operations.
Still on the topic of competitive scenarios, at the end of last year Foresea announced the development of a new technology that enables deepwater drillships to safely operate in shallow-water wells, with water depths below 400 meters. Could you elaborate on this project and its current stage?
This project is one of several pioneering initiatives developed by our Innovation department. To explain this technology, it is important to first mention an earlier development — the anchored BOP solution, which was pioneered on our semi-submersible rig Norbe VI. This solution combines the BOP anchoring system — the Blowout Preventer being the safety equipment responsible for controlling well pressure — with real-time riser analysis.
This innovation allows dynamically positioned rigs, which are typically deployed in deepwater environments, to also operate in shallow-water wells without requiring anchoring on the seabed, enabling faster operations and reducing environmental impact on the ocean floor. The anchored BOP solution earned Petrobras an international award at OTC Brasil 2023.
Building on that development, Foresea created a new solution for our drillship Norbe VIII, once again combining an unprecedented set of technologies that enables a dynamically positioned drillship to remain connected to a shallow-water wellhead — in water depths below 400 meters — with a level of precision control and operational safety that currently does not exist anywhere else in the world. This technology is already being installed on the Norbe VIII, which is expected to be ready for shallow-water operations during the first half of 2026.
Norbe VIII (Source: Foresea) Foresea has reportedly kept its entire fleet contracted since its foundation in 2023. What explains this performance?
Yes, we have maintained our entire fleet fully operational over the past years due to the quality of delivery we provide to our clients, always prioritizing safety and operational excellence. Foresea currently holds the best operational performance in the market. We closed 2025 with an average uptime close to 99%, winning Petrobras’ PEO-Sondas — the company’s Operational Excellence Program for drilling rigs — for the fourth consecutive time. This is the most important technical and management evaluation conducted by Petrobras. In addition, during OTC Brasil, we were recognized by Petrobras as the best offshore drilling operator.
Is the expansion of Foresea’s asset portfolio currently under consideration?
We are constantly monitoring the market and remain ready to evaluate any strategic business opportunities for the company. Expanding the size of our fleet is always part of our investment assessments. However, any investment decision must be accompanied by rigorous risk analysis and strong financial discipline, always with the objective of delivering returns to our shareholders without compromising our performance standards. We are not interested in growing simply for the sake of growth.
What supports the slogan “Foresea, market leader”? Which aspects characterize the company as such? And how was it possible to achieve these results in less than three years, in a market with strong international competition?
Rogério Ibrahim, Foresea’s CEO (Source: Bruno de Lima/Foresea) There are several factors that place Foresea in a leadership position within Brazil’s offshore drilling segment. As mentioned, the company has maintained all of its rigs contracted while also expanding operations through the management of third-party rigs. Foresea is also recognized for operational efficiency, with the highest uptime levels in the market and the industry recognitions previously mentioned.
We are also leaders in innovation, introducing groundbreaking technologies to the sector. In addition, we have become a benchmark in sustainability through pioneering socio-environmental initiatives — such as the recycling and reuse of 100% of our waste and investments in improving the quality of public basic education in Macaé — which further reinforce our leadership position within the industry.
In recent months, the offshore industry has been impacted by several developments, including the approval of exploration activities in Brazil’s Equatorial Margin and new oil discoveries. At the same time, geopolitical tensions involving the United States, Iran, and Venezuela continue to affect global oil production and distribution. Do you believe these issues spilling in Foresea in any way?
The entire oil and gas industry closely monitors conflicts in the Middle East and evaluates their direct and indirect impacts on the domestic market. Brazilian oil is increasingly viewed as a secure and cost-competitive alternative. At the same time, we are living through a period of geopolitical uncertainty and elevated risks, which may increase insurance and maritime freight costs, in addition to creating inflationary pressure that affects overall operating expenses.
ESG has become an increasingly relevant topic. How does Foresea incorporate these practices into its strategy and operations?
I will begin with the “S”, the social pillar. Foresea maintains a strong commitment to people. This means ensuring high standards of safety, integrity, physical and mental health, well-being, training, and development for all employees, both onshore and offshore. It also means extending support to partners and local communities, such as Macaé, where we maintain our office and support local development projects.
The “E” (environmental), is embedded both in our day-to-day activities, including waste management and circular economy initiatives already mentioned, and in our research, development, and innovation efforts, which focus on incorporating technologies aimed at reducing emissions and other environmental impacts. I would also highlight that operational efficiency itself contributes to reducing environmental impact.
Finally, regarding governance, we follow strict compliance, integrity, and ethics policies across our business operations, supported by continuous monitoring processes. In addition, our fleet is internationally certified, ensuring quality standards and compliance with global regulations.
Safety is a central pillar in the industry, and Foresea has received several awards in this area. How does the company maintain such high standards in its operations?
Safety culture is embedded in Foresea’s DNA. This means maintaining a permanent and explicit commitment that goes far beyond operational controls and safety monitoring systems. We continuously invest in campaigns and training programs for both employees and contractors, always maintaining a strong focus on safety.
We promote training programs covering national and international regulatory standards, customized courses for accident prevention in critical operations, and safety management initiatives. One example is the use of Observation Cards, through which employees identify and report unsafe conditions or behaviors so corrective actions can be implemented.
More broadly, our Digital Sustainability Program enables the digital completion of health and safety checklists, while our Human Factors Program expands our strategic approach to safety management through a governance model that encourages continuous improvement and operational evolution. Altogether, these initiatives form a robust and highly structured framework that reinforces our safety culture.
Could you also discuss Foresea’s initiatives related to developing new talent? How do you see the market for professionals interested in drilling?
Foresea’s strategy for talent development is based on three pillars: mandatory training, educational incentives, and professional development programs.
Mandatory training is primarily aimed at offshore personnel working onboard drilling rigs and includes compliance with legal requirements and client-specific contractual demands. Educational incentives provide subsidies for employees to pursue language courses, undergraduate and postgraduate programs, and other professional development opportunities within the oil and gas industry.
Our development programs are designed to align company culture and prepare employees for new career challenges across all technical and professional levels. One example is our Offshore Development Program (PDO), which accelerates talent development through supervised offshore assignments for internal professionals and selected candidates from the external market.
We also maintain a Leadership Development Program focused on principles and values, safety and risk management, communication, compliance, and career development. In addition, we created the Drilling Academy to foster knowledge exchange and continuous technical development among teams directly involved in drilling operations.
Could you tell us a little about your professional trajectory before joining Foresea? You worked for major companies such as Odebrecht and Vale. Which lessons and experiences from that period still apply to your current role as CEO of Foresea?
Most of my professional experience has been concentrated in management and planning. I graduated in Civil Engineering from IME, the Military Institute of Engineering, in 1983, and shortly afterward completed a postgraduate degree in Business Administration at Coppead/UFRJ.
I then joined Vale, where I was responsible for Commercial Planning. Later, in 1998, I joined Odebrecht and worked across several areas, including Controllership, Treasury, Projects, and Corporate Finance. That experience gave me broad exposure and eventually led me to CFO positions at several group companies, including Odebrecht Engenharia & Construção, Santo Antônio Energia S.A., Odebrecht Energia, and later Ocyan. When Foresea was established, I assumed the company’s presidency.
I believe that this trajectory within major corporations across strategic sectors of the economy allowed me to develop highly relevant competencies, including financial restructuring, digital transformation, and high-performance team management, all of which contribute directly to my current role leading Foresea.
You have a background in Civil Engineering. How has this technical foundation contributed to your business vision and leadership style in such a complex sector as offshore?
I see Engineering as a discipline that naturally fosters leadership across different sectors because, beyond technical knowledge, it develops structured thinking focused on creating viable solutions for complex challenges.
Engineers are trained to maintain a systemic and strategic perspective, understanding how each part influences the overall result. This is extremely important for decision-making processes.
More specifically, civil engineering provides knowledge related to structures and materials, planning, logistics, cost management, and risk management, all of which are directly connected to offshore operations and business activities.
Rogério Ibrahim on a technical drillship inspection (Source: Bruno de Lima/Foresea) Finally, what is your vision for Foresea over the next five to ten years?
Foresea has very positive long-term prospects for several reasons. First, we believe the Brazilian oil and gas market is currently one of the most attractive in the world. Brazil already represents more than 30% of global demand for offshore drilling contracts and is entering a new growth cycle.
We are confident that Foresea is prepared to play a leading role in this expansion. The investments we are making are aligned with that objective. Our priority is to maintain Foresea’s leadership position within the sector, fully prepared to capture market opportunities while sustaining high operational performance and environmental safety standards.
Thanks, Ibrahim
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Digital Minds #3
The End of Intermediaries… or the Value of Judgment?
Fernando Vilela (Source: Klesio Abel/WSB Team) The other day, someone called me asking for information. They weren’t a client, weren’t interested in hiring anything, didn’t want a meeting, and certainly weren’t asking for a proposal. They just wanted a piece of information. Then came the questions: a vessel, a contract, a contact, a confirmation.
Sound familiar?
We’ve all been on both sides of that conversation, especially because, in our industry, it’s necessary. At some point, we’ve all shut down the computer, ignored the reports, closed a few of the dozens of tabs open in our browser, and decided to call someone.
And that’s where the contradiction appears.
Never before have we had so much access to information, and never before have we seen so many people desperately searching for it.
I’m certain that the person who made that call was carrying more research capability in their pocket than an entire company possessed a few decades ago. Today we have LinkedIn, artificial intelligence, tracking systems, specialized platforms, newsletters, dashboards, and an almost absurd amount of data available just a few clicks away. Depending on your role, there’s a good chance you even subscribe to WSB.One or another industry platform.
In theory, finding answers has never been easier.
But, as always, there’s a “but.”
If information is everywhere, why do we keep looking for people?
What happened to all those predictions? Face-to-face meetings would disappear. Industry events would become irrelevant. Networking would move entirely online.
According to the internet’s experts, intermediaries would be replaced by platforms, and artificial intelligence would take care of the rest.
A logical conclusion?
Funny.
Events got bigger, trade shows expanded, airports remain crowded, and we continue receiving invitations to lunch and dinner.
The reality is that professionals still travel across cities, states, countries, and even oceans to discuss matters that, theoretically, could be resolved in a fifteen-minute video call.
The problem was never the technology.
The problem was that we misunderstood where the real value was.
For a long time, we believed that information was power. And perhaps it was, back when data was scarce and those who had access to it held a significant advantage.
Today, the challenge is no longer finding information.
It’s surviving it.
And, interestingly enough, ending the day with just as many questions as when you started.
Consider this: a platform can show where a vessel is. It can display contracts, historical data, movements, and market trends. In fact, it should. That’s exactly what data platforms are designed to do. They save time, organize complex markets, and eliminate an enormous amount of work.
But eventually, every piece of information leads to the same question:
“Now what?”
Will that seemingly available vessel actually be available when you need it? Will the contract that’s about to expire really come to an end? Is there an extension negotiation taking place behind the scenes? Is the owner genuinely interested in that opportunity? Are there any operational or technical issues? Does the documentation comply? Does the crew meet the requirements?
And perhaps the most important question of all:
Will that client actually close the deal, or will they change their mind three times during the negotiation?
Because that’s precisely the moment when data stops helping on its own.
That’s when experience, relationships, and judgment begin to matter.
Perhaps the market is not witnessing the end of intermediaries.
Perhaps it’s witnessing the end of professionals whose only role was moving information from one side to the other.
Technology already does that.
And it does it better, faster, and cheaper.
What remains rare is someone capable of interpreting context, anticipating risks, connecting scattered pieces of information, and turning a mountain of data into a practical decision.
Someone capable of looking at a screen full of information and saying:
“Ignore 95% of this. What matters is right here.”
The more data exists, the more valuable judgment becomes.
And there’s an observation that may be even more important.
“Deal closed. Contract signed. What’s next?”
In reality, that’s often when the real work begins.
That’s when operational adjustments, delays, scope changes, pending documents, questions, problems, and the inevitable surprises that no spreadsheet could ever predict begin to emerge.
And perhaps that’s the point advocates of disintermediation never fully understood.
Finding an opportunity has become easier. Closing a contract has become easier too. Making things work afterward remains the hard part.
And perhaps that’s why the most valuable professionals are not merely those who find opportunities, but those who remain present when those opportunities become responsibilities. They’re the ones who stay involved, answer the phone when problems arise, and help find solutions long after the excitement of the negotiation has faded and the reality of execution has begun.
Because data helps find answers.
Experience helps make things work.
And that may say more about the future of business than any technological prediction of the past decade
Data Matters