Leading subsea technology

Reproduction of TB Petroleum magazine.

Reproduction of TB Petroleum magazine.

TB Petroleum’s May issue brought a special article about the Norwegian subsea expertise. The journalist joined the 2013 Technology Press Trip, and attended the Underwater Technology Conference during the visit to Bergen.

Brazil has become the third most important single market for Norwegian business. The trade history between the two countries dates back to the 19th century, when Norwegian shipping companies would trade codfish for sugar and coffee. Since then, the relation only improved, and Brazil was one of the first nations to recognize Norway’s sovereignty in 1905.

After the EU and the United States, most of Norway’s overseas investments are concentrated in Brazil, which is the world’s largest offshore market. The majority of the Norwegian companies present in Brazil (75%) operate in the naval and oil & gas business. The complex tax bruden and lack of trained workforce are the most frequent challenges for those companies.

Gateway for subsea technology

Bergen is the Norwegian gateway for subsea technology, and it’s where the Norwegian Centre of Expertise Subsea is based. NCE Subsea brings together more than 100 companies and organizations, and it contributes to the internationalization and increased competitiveness of those businesses. The companies are encouraged to collaborate when it is possible, and to compete when it is not.

The cluster’s projects have already received over NOK 470 million in funding, and it is focused mostly in maintenance, modification and operation markets, as well as innovating technical products and cutting-edge techonology for the subsea industry.

According to the “2012 World Energy Outlook” by the International Energy Agency (IEA), the international market for subsea systems was valued at USD 60-94 billion for the period 2012-2015. Brazil is one of the main consumers of these due to its increasing domestic deepwater production. That is where Norwegian technology companies come with large advantage, because they have expertise in the type of technology that is demanded by today’s market, mainly when it comes to deepwater and pre-salt. Brazilian suppliers are seeking partnerships in this area with Norwegian companies.

Read more about the Norwegian subsea industry in the article by Maria Fernanda Romero. You can find it in May’s issue of TB Petroleum magazine.

Preview here:

Innovation Norway is responsible for promoting the Norwegian industry abroad. Our office in Rio de Janeiro manages Innovation House Rio, our business incubator office, and helps Norwegian companies in their efforts towards the Brazilian market.

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Posted in Oil & Gas

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