Scottish Energy Minister, Fergus Ewing, is to urge subsea companies to exploit Brazilian opportunities at an inaugural “Maximising Our Future” business seminar being held in Aberdeen next week (October 9).
With around 2.5 million recoverable barrels per day projected by 2015 and subsea Capex worth around $7.76 billion over the next five years, the Latin American state holds a wealth of opportunities for UK subsea companies.
Mr Ewing said: “Scotland has an incredible wealth of energy resources from a range of generating technologies, capable of both meeting our energy needs and significant exports to parts of the UK and Europe.
“As well as natural resources, we also have a fantastic pool of skills, and an innovative, world leading industry. It’s clear there are great opportunities for Scottish companies in Brazil, and that the skills and expertise built up over the past decades in the North Sea will be of great use to companies seeking to invest.”
Industry body, Subsea UK has partnered with Scottish Enterprise and its overseas arm, Scottish Development International (SDI) to produce a series of reports to raise awareness of the business potential in international markets and promote trade and export within the Scottish Oil and Gas supply chain.
‘Doing Business in Brazil’, the first in the series, aims to help companies navigate some of the challenges arising whilst breaking into the region by offering anecdotal advice.
Neil Gordon, chief executive of Subsea UK, said: “With Brazilian growth projected to significantly increase over the next 5 years, it has become a key region which offers a range of opportunities for UK subsea companies.
“Although there are many issues surrounding the local supply chain, we hope that by tapping into companies’ previous experience in Brazil, this report will not only offer guidance but encourage companies to take that leap into a new market place.”
He added: “With global subsea growth projected to double from £20 billion to £40 billion by 2017, the international market offers a plethora of opportunities and continues to be a priority for us as an organisation and our members.”
Held at Norwood Hall Hotel, speakers at the event include Alan Charlton, UK Ambassador in Brazil, Anne MacColl, chief executive of SDI, Ian Wilkinson, GlobalScot and director at Petrolink and Antonio Claudio Correa, reservoir engineering project manager at Petrobras.
Tony Baker, director of International Trade at Scottish Development International, said: “This is a great opportunity for companies to learn more about this rapidly expanding market and as part of the event delegates will hear from two companies, Hydrasun and Centrifuge Unlimited, about their experiences in Brazil.
“Scotland’s international sales from the oil & gas supply chain were valued at an impressive £7.6 billion last year, and growing these further is one of the key priorities in the recently launched Oil & Gas Strategy for Scotland. This event will help companies learn first-hand how they can take advantage of the opportunities we know that Brazil in particular has to offer, and build on Scotland’s global success in this sector.”
Delegates will also get the chance to question a panel of businesses, including Bob McAlpine of Hydrasun and Jim Shiach of Centrifuges Unlimited, who have successfully exported to the Brazilian market, as well as supporting specialists in taxation, legal, finance and logistics.
Scottish Enterprise, SDI and Subsea UK are committed to helping subsea companies capitalise on the global opportunities by exporting their skills, technology, expertise and experience to key emerging oil and gas markets.
Press Release, October 03, 2012