NOIA Members developing knowledge and connections in Brazil

October 2, 2012

NOIA Members developing knowledge and connections in Brazil

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Our Executive Vice-President, Karl Gannon visits Rio, Brazil as part of a Canadian Trade Mission

Following their arrival last weekend, Noia members quickly got down to business at Rio Oil & Gas 2012.

On day one, they met with Brazilian oil giant Petrobras at their R&D facility, CENPES, located in Rio de Janeiro.  During the meeting Petrobras outlined their massive investment plans for 2011-2015, which total $224.7 billion.  Expansions are planned in the areas of new frontiers, production optimization, pre-salt production and subsea production systems, plus others.  The company – and the country – face huge challenges ahead to acquire the resources they need to achieve their plans.

Noia members are busy interacting with local businesses and working to develop joint venture relationships with Brazilian firms.  Based on numbers provided by Petrobras and various operators, Newfoundland companies could participate in many different aspects of this huge market, and some Noia representatives feel that the opportunities available to  Newfoundland offshore companies are staggering.

Sid Cox, of Marine Industrial Lighting Systems, is using his time wisely and actively seeking connections during his time in Brazil.  He has already identified many opportunities for his company.

“While we have found there is significant work required to enter this market, with the right effort and commitment, along with this being the right time, MILS along with other Newfoundland companies are poised to develop strong serious business relationships in this region. The warm reception to the delegation is a testament and recognition to the global expertise being developed in Newfoundland,” Sid commented.

Brazilian companies have been visiting the Atlantic Canadian booth looking for partners.  They are reaching out for help.  The opportunities are vast but understanding the rules to play will take more than one mission and a phone call.