Tag: offshore

  • PRIO Acquires Sinochem Petroleum

    PRIO Acquires Sinochem Petroleum

    By Rafael Bortoloti

    PRIO has announced the signing of a contract to acquire Sinochem Petroleum Netherlands which holds a 40% stake in the Peregrino and Pitangola fields, both located in the Campos Basin. The remainder is retained by Equinor.

    The acquisition is valued at $1.915 billion, with $191.5 million paid upon contract signing and $1.7235 billion upon transaction completion, along with adjustments for working capital and standard price adjustments for this type of deal.

    With this acquisition, PRIO’s production will increase by approximately 35,000 barrels per day. The Peregrino field, with recoverable reserves of 338 million barrels, is expected to yield 135 million barrels for PRIO. Equinor operates the field’s infrastructure using FPSOs and fixed platforms, currently producing about 88 kbbl/d.

  • Brava Energia concludes sale

    Brava Energia concludes sale

    By Rafael Bortoloti

    Brava Energia, established from the merger of 3R Petroleum and Enauta, has completed the sale of 20% of the Atlanta and Oliva fields to Westlawn Americas Offshore for a total of $309 million.

    The transaction was concluded after all necessary conditions were met and received approval from the ANP. The payment includes $234 million, in addition to $75 million already received at the contract signing in March, when the fields were still owned by Enauta.

  • WSB Advisors Seminar Gathers Over 100 Industry Leaders

    WSB Advisors Seminar Gathers Over 100 Industry Leaders

    On September 25th, the iconic Copacabana Palace Hotel in Rio de Janeiro hosted another successful edition of the WSB Advisors Maritime Navigation Seminar, now in its 7th edition. Led by Alexandre Vilela, CEO of WSB Advisors, and Joana Rodrigues, Head of Market Intelligence, the event brought together over 100 guests from the oil, gas, and energy industries, offering an innovative and interactive format. Alexandre and Joana moderated all five seminar panels, adopting a relaxed yet thought-provoking approach, using provocative questions to encourage the panelists to share their views freely and openly.

    Opening Focused on Brazil-Norway Relations

    The event’s opening featured key industry and diplomatic figures, with a special focus on the growing collaboration between Brazil and Norway. Mai Tonheim, Consul of the Royal Consulate General of Norway in Rio de Janeiro, was the first to speak, highlighting the new cycle of investments from Norwegian companies in Brazil, particularly in the energy transition sector, supported by the Norwegian government’s incentives for related activities.

    Following this, Larissa Sigiliano, President of the Norwegian-Brazilian Chamber of Commerce (NBCC), emphasized the significant increase in the operations of NBCC member companies in the oil, gas, and energy sectors and their optimistic outlook for continued growth. Camila Mendes Vianna Cardoso, partner at Kincaid | Mendes Vianna Advogados and former president of NBCC, complemented the discussion by recalling years of legal support provided to Norwegian companies entering the Brazilian market, highlighting the ongoing partnership between the two nations.

    Closing the opening session, Sérgio Bacci, President of Transpetro, representing Petrobras President Magda Chambriard, spoke about Petrobras’ new vessel procurement cycle, announcing the order of 26 vessels—22 offshore support vessels and 4 cabotage ships. He expressed his expectation that the next orders will further strengthen the Brazilian shipbuilding industry, particularly benefiting national shipyards, which will play a vital role in this new wave of contracts.

    In-Depth Panel Discussions

    The first panel, moderated by Alexandre Vilela and Joana Rodrigues, focused on the energy transition and featured Roberta Cox from the Global Wind Energy Council (GWEC), Anídio Correa from WSB Advisors, Daniel Lamassa from Mingyang, and Federal Deputy Eduardo Pazuello, President of the Oil, Gas, and Energy Parliamentary Front (FREPPEGEN). The debate centered on the need for a stronger regulatory framework for offshore wind energy in Brazil and the challenges in speeding up the environmental licensing process, a topic thoroughly discussed by the panelists.

    In the second panel, the discussion turned to the shipbuilding industry and its need for revitalization. Alexandre and Joana moderated the exchange of ideas between João Pacheco, Director of SINAVAL and President of ABEEMAR, Rachid Félix from Valor+, Augusto Vedan from ANTAQ, and Wagner Victer, Advisor at Petrobras. The key takeaway from the panel was the importance of protecting Brazil’s shipbuilding industry and the hope that Petrobras’ new vessel orders will serve as a catalyst for more sustainable and consistent growth in the sector.

    The third panel addressed the issue of vessel decommissioning, a growing challenge in Brazil, especially in the state of Rio de Janeiro. Alexandre and Joana led the discussion, which included contributions from Jucélia (Tia Ju), State Deputy and President of the ALERJ Commission of Inquiry on vessels, judicial expert Maurício Almeida, Professor Dr. Augusto Moutella from ELERJ, and Admiral Ilqies Barbosa Junior from the Naval Technology Cluster. The panelists unanimously agreed that Brazil will face an unprecedented industrial challenge in the coming years as the country grapples with the increasing demand for new shipbuilding while also addressing the decommissioning of vessels and offshore units.

    The fourth panel shifted focus to human capital in the maritime industry, a critical issue for ensuring the sector’s sustainability. Thiago Valejo from FIRJAN, César Castro from Elcano, José Carlos Elias from Altera Infrastructure, and João Queiroz from Intcom shared their insights into the challenges of developing a skilled workforce for the naval sector, emphasizing the need for stronger partnerships between the industry, educational institutions, and the government to meet the sector’s growing demand for qualified professionals.

    Data Analysis and Awards Conclude the Event

    The fifth and final panel, also moderated by Alexandre and Joana, provided a detailed analysis of market demand and rate predictions for the Brazilian maritime sector. Genésio Ramos, Daniel Buckley, Raphael Montes, and Joana Rodrigues, all from WSB, presented a comprehensive perspective on the immediate need for over 50 vessels to replace foreign-flagged ships and the trends in charter rates. WSB’s predictive capabilities were one of the key highlights, showing how the company had anticipated critical market movements months before they materialized.

    To close the seminar, the prestigious WSB Choice Awards were presented, recognizing the companies and professionals who stood out the most in the oil, gas, and energy sectors, with a special emphasis on maritime operations.

    After a day of intense discussions, the NBCC hosted a networking dinner, sponsored by WSB Advisors, at the Copacabana Palace. Now in its 9th edition, the networking event is considered one of the most anticipated during Rio de Janeiro’s Energy Week, attracting leaders and executives from various industry sectors.

    With another successful edition, WSB Advisors strengthens its role as a thought leader, facilitating strategic discussions on the future of the maritime and energy sectors in Brazil.

    WSB Advisors: Data Matters.

  • AHTS tender results

    AHTS tender results

    By Alexandre Vilela

    Petrobras has released the approval results for Lote A of the latest AHTS tender. Congratulations to Asgaard Bourbon Navegação for Geonisio Barroso and Yvan Barreto, and to Asso Marítima Navegação and Augusta Offshore for Asso Ventinove on their approval. Way to go!

    Nothing like a dynamic market during an agitated ROGe week!

  • WSB visits shipyard

    WSB visits shipyard

    Raphael Montes (Proposals Manager and Partner) and Pedro Pellegrini (Intern, Market Intelligence) had the privilege of visiting shipyard Estaleiro São Miguel alongside our partners at Grupo Bravante.

    Bravante is now taking the helm of marine management and operations for the well stimulation vessel Stim Star Arabian Gulf, owned by Halliburton, as they transition operations from Asgaard Bourbon Navegação .

    WSB Advisors is proud to be a strategic partner, supporting Bravante in this significant venture. Wishing the SSAG smooth sailings and success ahead!

  • WSB Seminar 2024 Program

    WSB Seminar 2024 Program

    08:30 – 09:00h – Welcome Coffee

    09:00 – 09:30h – Opening

    09:30 – 10:15h

    Panel 1: The Future of Offshore Wind in Brazil’s Renewable Energy MatrixTheme: Offshore Wind Energy in Brazil—Is it a Vision or a Reality?

    With offshore wind emerging as a key element in Brazil’s energy transition, this panel will explore whether it will become a reality and examine the regulatory and operational challenges ahead.

    • Is Offshore Wind in Brazil an inevitable reality or just a distant dream?
      What are the main challenges and opportunities driving or hindering its development, and can the current pace of progress keep up with expectations?
    • Regulatory Challenges: How are environmental and territorial issues navigated in mature offshore wind markets?
      Will Brazil’s regulatory framework learn from these precedents, and how long should stakeholders expect to wait for a well-defined, actionable framework?
    • Oil & Wind: A Synergistic Relationship or Competing Forces?
      Why do we see oil companies leading the charge in Brazil’s offshore wind space? Is this the same dynamic observed globally, and how do these industries collaborate operationally?

    10:15 – 11:00h

    Panel 2: Navigating the Future of Brazil’s Shipbuilding IndustryTheme: Fleet Renewal and Regulatory Challenges in Brazilian Shipbuilding

    This session will focus on the pressing need for fleet renewal in Brazil, the challenges facing the dormant shipbuilding industry, and the regulatory issues impacting cabotage, offshore support and port towage.

    • How can Brazil’s shipbuilding industry recover from its current dormancy?
      What immediate actions are necessary to stimulate fleet renewal and meet the demands of the country’s maritime sectors?
    • Is the restrictive model of port towage a blueprint for other sectors?
      Should this protectionist approach be applied more widely, or does the industry need more flexibility like in cabotage, where foreign tonnage now plays a larger role?
    • Has the flexibilization of cabotage been a positive step toward addressing Brazil’s transportation capacity crisis?
      How can we measure the success of this approach so far, and what lessons from the past two decades of market regulation should guide future decisions?
    • In the offshore sector, can the cyclical nature of shipbuilding sustain the long-term needs of the industry?
      How does the allowance of foreign-flagged vessels impact the local shipbuilding ecosystem, and is this the right balance for a sustainable future?

    11:00 – 11:45h

    Panel 3: Navigating the End of Offshore Asset and Vessel Life CyclesTheme: Decommissioning, Dismantling, and Disposal of Offshore Assets and Vessels

    As Brazil faces a wave of offshore asset retirements, this panel will discuss the regulatory frameworks and processes required to safely decommission, dismantle, and dispose of aging assets and vessels.

    • What regulatory frameworks govern the decommissioning and disposal of offshore assets and vessels in Brazil?
      Are current policies robust enough to handle the sheer volume of upcoming disposals, and what improvements are needed to ensure safety and compliance?
    • Decommissioning, dismantling, and disposal: What do these terms really mean?
      How can the various stages of an asset’s or vessel’s end-of-life be clearly defined, and why is it crucial for the industry to differentiate between these phases?
    • How do State, Federal, and Municipal authorizations play a role in this process?
      At what points do these governmental bodies intervene, and how do jurisdictional responsibilities affect the efficiency and compliance of decommissioning operations?
    • How does Brazil’s approach to the disposal of offshore assets and vessels compare to international standards?
      What global conventions and frameworks are relevant, and how well-positioned is Brazil to meet international best practices in sustainable asset disposal?

    12:45 – 13:15h

    WSB Choice awards announcement
    Charterer of the year | Oil Company of the year | Owner of the year | EPCI Contractor of the year | Project of the year | Executive of the year | Broker Friendly Owner of the year | Business Partner of the year | Broker of the year

    13:15 – 14:00h

    Panel 4: Addressing the Workforce Challenge in Brazil’s Maritime IndustryTheme: Navigating the Manpower Gaps in Cabotage, Offshore, and Offshore Units

    This panel will explore the migration of crew members between cabotage and offshore sectors, the real extent of the workforce shortage, and the steps needed to close the skills gap in Brazil’s maritime industry.

    • What drives the migration of crew members from cabotage to offshore and offshore units?
      Are better pay, working conditions, or career advancement the key factors, and how does this migration impact workforce availability across these sectors?
    • Is there truly a shortage of skilled crew members, or is the issue one of specialization and distribution?
      If both the industry and unions claim to be right, what are the nuances of this workforce gap, and how can these differing perceptions be reconciled?
    • What impact does the increasing complexity and specialization of vessels and equipment have on crew demands?
      As the industry grows, are training programs and workforce development initiatives keeping pace with the rising need for specialized skills?
    • How can Brazil ensure a sustainable supply of well-trained maritime professionals to support the recovery of its fleet?
      What strategies should be adopted to attract, retain, and upskill crew members, ensuring that all sectors—cabotage, offshore, and offshore units—are sufficiently staffed?

    14:00 – 14:30h – Coffee-break

    14:30 – 15:45h

    Panel 5: Market trends

    Theme: The rate tendencies, vessels availability, opex inflation

    A dive into the intensive data provided by WSB, with an open discussion with the audience and panelists.

  • WSB Seminar: An Exclusive and Unmissable Experience! 

    WSB Seminar: An Exclusive and Unmissable Experience! 

    A unique journey at Copacabana Palace on September 25th, from 9 AM to 5 PM! WSB Advisors presents an exceptional Seminar that will transform your perspective on the offshore sector.

    Key Panels Include

    – The Future of Offshore Wind in Brazil’s Renewable Energy Matrix
    – Navigating the Future of Brazil’s Shipbuilding Industry
    – Navigating the End of Offshore Asset and Vessel Life Cycles
    – Addressing the Workforce Challenge in Brazil’s Maritime Industry
    – Market Trends

    Additionally, the event will feature awards and prominent professionals from the offshore industry!

    Who would you invite to these discussions?

  • Green light to Brava Energia

    Green light to Brava Energia

    By Rafael Bortoloti

    Brava Energia, established from the merger of 3R Petroleum and Enauta, has announced that it has received the “green light” from IBAMA (Brazilian Institute of the Environment) for the license to commence operations of the FPSO Atlanta. The final approval from ANP (National Oil Agency) is now pending to start the activities.

    The FPSO will be installed in the Atlanta field, located in the Santos Basin, with a processing capacity of up to 50,000 boed and 12.4 mmscfd. The company also reported a production of 56,600 boed in August, reflecting a 3.1% increase compared to the previous month.

  • WSB Seminar: partnership with WTN LAK

    WSB Seminar: partnership with WTN LAK

    WSB Advisors is pleased to announce WTN LAK as a key partner and supporter for the 7th edition of the WSB Seminar!

    This exclusive event will gather leading professionals from the offshore industry, both in the audience and among our distinguished panelists—soon to be revealed. On September 25th at Rio de Janeiro’s iconic Copacabana Palace, from 9:00 AM to 5:00 PM, a day of deep dives into the entire lifecycle of units and vessels, from construction to decommissioning, amongst other hot topics, with exclusive insights into the offshore market’s most pressing challenges.

    Following the seminar, the NBCC – Norwegian Brazilian Chamber of Commerce dinner will take place at the same venue, offering even more networking opportunities and surprises!

    Stay tuned for more updates!

  • WSB Seminar: partnership with NSI

    WSB Seminar: partnership with NSI

    WSB Advisors is pleased to announce NSI Group as a key partner and sponsor for the 7th edition of the WSB Seminar!

    This exclusive event will gather leading professionals from the offshore industry, both in the audience and among our distinguished panelists—soon to be revealed. On September 25th at Rio de Janeiro’s iconic Copacabana Palace, from 9:00 AM to 5:00 PM, a day of deep dives into the entire lifecycle of units and vessels, from construction to decommissioning, amongst other hot topics, with exclusive insights into the offshore market’s most pressing challenges.

    Following the seminar, the NBCC – Norwegian Brazilian Chamber of Commerce dinner will take place at the same venue, offering even more networking opportunities and surprises!

    Stay tuned for more updates!

  • WSB Seminar: partnership with Pinheiro Almeida

    WSB Seminar: partnership with Pinheiro Almeida

    WSB Advisors is pleased to announce Pinheiro Almeida, Pericia e Assist. Técnica Judicial as a key partner and supporter for the 7th edition of the WSB Seminar!

    This exclusive event will gather leading professionals from the offshore industry, both in the audience and among our distinguished panelists—soon to be revealed. On September 25th at Rio de Janeiro’s iconic Copacabana Palace, from 9:00 AM to 5:00 PM, a day of deep dives into the entire lifecycle of units and vessels, from construction to decommissioning, amongst other hot topics, with exclusive insights into the offshore market’s most pressing challenges.

    Following the seminar, the NBCC – Norwegian Brazilian Chamber of Commerce dinner will take place at the same venue, offering even more networking opportunities and surprises!

    Stay tuned for more updates

  • New agreement for FPSO

    New agreement for FPSO

    By Rafael Bortoloti

    SBM Offshore has announced the acquisition of the remaining stake in MISC Group’s FPSO Espírito Santo. With this purchase, SBM will now hold 100% of the shares related to the vessel’s operations.

    Currently, the FPSO is chartered to Shell and operates in the Parque das Conchas field in the Campos Basin, with a production capacity of approximately 100,000 boed 1.42 million cubic meters of natural gas per day.