Energy Ventures Sets Sights on Brazil's Growing E&P Sector
Energy Ventures is expanding into Brazil to introduce new technologies to energy companies working in the country and look for new investment opportunities. The necessity of broad expertise and technology to realize the potential of Brazil's resources has accelerated Energy Ventures' move into the country's growing offshore oilfield services market.
"Brazil's expansive deepwater E&P market provides a unique opportunity for us to apply and grow our technology portfolio," said Ole Melberg, Managing Partner at Energy Ventures. "The complexity of finding and producing Brazil's presalt carbonate reservoirs is driving the creation and application of new technologies as they are the only economical solution to the resource's challenges."
As a testament to the potential of Brazil's offshore resources, Petrobras, Brazil's largest energy company, recently announced plans to double the country's oil production by 2020.
Energy Ventures' Brazil operations will be led by Roberto Paschoalin, Executive Director of Paschoalin Ltda. and Erik Hannisdal, Managing Partner of Inventure Management. Paschoalin has experience with Brazil's leading energy companies, he began his career with Petrobras in 1980, serving 22 years before leaving to establish an office for Norwegian-based Sevan Marine ASA. Hannisdal previously ran Innovation Norway's activities in Latin America from Rio de Janeiro and worked for Accenture in Norway on international business implementation projects.
In addition to formalizing its presence in Brazil, Energy Ventures has expanded the international reach of its Advisory Board. Jorge Camargo, a longtime leader at Petrobras; Vik Rao, a prestigious oilfield services technology innovator at Halliburton; and Dr Foo Kok Seng, deputy director of Keppel Offshore & Marine Technology Centre have signed on to Energy Ventures’ Advisory Board.
Camargo spent 27 years at Petrobras in exploration and executive positions before moving to Norway to work with Statoil on international business development. At Halliburton, Rao oversaw technology development and IP management for the company's energy services group. Dr. Seng brings a wealth of experience and contacts in the FPSO market to Energy Ventures and expands the company's expertise in Southeast Asia.
Energy Ventures' Advisory Board ensures the company invests in technologies that will positively change upstream energy. Board members identify key trends, such as the challenges of deepwater production, which are the basis for Energy Ventures' investments.
Energy Ventures' portfolio includes 16 companies developing a range of proprietary upstream technologies. Through focused insight and extensive experience in the oil and gas industry, Energy Ventures identifies areas within the E&P sector where a technology will generate the most value and have the most impact.
For example, Deepflex, a current investment, has created a new generation of lightweight, flexible, non-metallic un-bonded pipes designed to overcome the challenges of subsea energy operations. The first of their kind, the pipes offer energy companies working in Brazil's deepwater plays substantial cost savings and better performance than current equipment.
- Energy Ventures Earmarks $200M to Boost North Sea Industry (Nov 03)
- Energy Ventures Sets Sights on Brazil's Growing E&P Sector (Dec 02)
- Energy Ventures Ready to Invest $100MM in Hi-Tech Oil, Gas Cos (Apr 01)