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:
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:
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.
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.