Odebrecht Oil & Gas

With more than 35 years of experience in the Oil and Gas industry, the Group has kept up with the development of the sector within the Brazilian economy. In 1979, through Odebrecht Perfurações Ltda., it was the first private Brazilian company to provide offshore well drilling services to Petrobras. It was also a pioneer in the operation of a semisubmersible rig in a water depth of 1,000 meters (approximately 3,300 feet). 

Odebrecht Oil & Gas provides integrated solutions in Brazil, Angola, Mexico, Venezuela, and Argentina, both in the investment phase as well as the operations phase.

It operates in the following areas:

  • Offshore drilling 
  • Underwater construction
  • Operation of offshore production and logistics units 
  • Offshore maintenance and services
  • E&P (exploration and production) project management
  • Specialized well services 

It became the Brazilian company with the largest number of offshore ultra-deep drilling units, achieving the sixth highest ranking in the world. Its fleet includes 16 units, with seven rigs in operation

and five under construction, two FPSOs (Floating Production Storage and Offloading) in use, and two PLSVs (Pipe Laying Support Vessel) in the final structuring phase.

In Venezuela, Odebrecht Oil & Gas reached a peak daily production of 6.2 thousand barrels of oil as part of the contract for the provision of specialized well services to Petrourdaneta, a joint venture with the participation of Odebrecht (40%) and the Venezuelan state-run company PDVSA (60%). In Angola, it discovered oil in the Cubal-1 well in Block 16.

A few of its recent achievements include:

  • Start of operations of the Cidade de Itajaí FPSO with cumulative production of more than 12 million barrels;
  • Chartering and operation of the Offshore Drilling Unit NORBE VIII, with the Total company;
  • Operation of another PLSV in partnership with Ceona Chartering Ltda.;
  • Contract for maintenance and offshore services in Bacia de Campos (RJ);
  • Start-up of operations of the ODN Tay IV Drilling Unit for Petrobras;
  • Conclusion of Project Bond for the financing of the ODN I, ODN II, and NORBE VI Units, with a maturity date of 2022 and a total of US$ 1.69 billion raised;
  • Training of 45 Members through the Embarcar Program (main initiative for the training of teams involved in offshore services), with 22 Young Technicians, 17 Young Partners, and six on-board professionals.
Cidade de Itajaí FPSO
ODN Tay IV Drilling Unit
Odebrecht OIl & Gas offers integrated solutions
PLSVs (Pipe Laying Support Vessel)
Offshore Drilling Unit NORBE VIII
Self-elevating oil platform in Singapore, the NORBE I

Awards and Distinctions

Its performance in the sector has earned Odebrecht Oil & Gas awards such as the Latin American Offshore Drilling Deal and the Latin America Oil & Gas Deal of the Year for 2013, awarded by the Project Finance magazine; and the Project Bond Deal of the Year for 2013, awarded by World Finance magazine.

Timeline

In the 1970s, Brazil invested heavily in domestic exploration and oil drilling, in light of the dependence on foreign fuel. Between 1975 and 1976, Odebrecht began drilling in the fields of Vaza-Barris, in Sergipe, and Garoupa and Pargo, in Bacia de Campos (RJ), where the discovery of oil was announced in 1974.

1979 marked the creation of Odebrecht Perfurações Ltda. (OPL), for drilling wells on land and at sea, and for the execution of pipelines and complementary services. After winning the first Petrobras tender for drilling on the continental shelf, OPL acquired a self-elevating oil platform in Singapore, the NORBE I (photo). The operation made Odebrecht the first private Brazilian company to provide this type of service.

In the 1980s, it took the bold step of undertaking oil drilling operations in areas of water with depths exceeding 90 meters, in addition to learning how to operate semi-submersible platforms. A partnership with Triangle Drilling and the French company Foramer S.A. made the operation of the NORBE I, II, III, IV and V Units possible. By the end of the decade, OPL was the already the largest private fleet in the country for offshore oil exploration and drilling, with 8 platforms. 

In the 1990s the company expanded its operations internationally, including the North Sea, with a focus on providing services and operating FPSOs for new clients. In 2006, the Group concentrated its oil and gas investment in a new business, Odebrecht Oil & Gas.