AETI Alliance Group to Service Brazilian Offshore Drilling, Marine Markets
At the 2008 International Work Boat Conference, hosted on December 3, 2008, American Electric Technologies entered into an alliance agreement with Five Star Services Ltda. of Macae, Brazil and Lifting Services Ltda. of Niteroi, Brazil. The newly formed AETI Alliance Group will provide full power distribution and control system design, manufacturing, and offshore services to the Brazilian offshore drilling and marine markets.
"Brazil's state-run oil company Petrobras has recently announced that it intends to build 28 new drilling rigs and 122 Production Service Vessels (PSVs) in Brazil over the coming years as it expands its deep water operations. The ability to serve the Brazilian market locally is paramount to establishing market share in this rapidly expanding market," said Beppe Askerbo, President Five Star Services.
To become the leading turn-key provider to the Brazilian market, the three companies have agreed to integrate their offerings and to begin the process to create a joint venture entity. AETI has allied with Lifting and Five Star Services to manufacture electrical switchgear and drives, and provide electrical services in Brazil. These products and services will be provided for oil and gas drilling, production and service vessels.
With the support of technology and manufacturing processes from AETI, the alliance will fabricate, assemble and test products in Brazil and deliver to local customers. These products will be commissioned and supported by local Brazilian technical service staff. Construction and installation services will also be available on a local basis. In addition, the alliance has the capability to fabricate steel modules and completely outfit drilling and marine electrical systems for cost effective installations.
Lifting Services Ltda. has provided maintenance, repair, installation, and fabrication services of electrical and electronic equipment for the offshore drilling and marine markets in Brazil for over 15 years. With DNV certification of ISO 9000/9001, Lifting's customers include major oil/gas clients including Brasdril, Edison Chouest, Frontier Drilling, Halliburton, Maersk, Modec, Noble Drilling, Pride International, SBM, Schlumberger, Tidewater, Todco, and Transocean.
"Although we were approached by several U.S. companies, AETI's experience in providing offshore marine and drilling power systems, coupled with their reputation for engineering excellence and their experience in successfully scaling international partnerships made them a perfect complement to our offshore services," said Claudius Carvalhal, Managing Director, Lifting Services.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally