CoreMarine will incorporate local capabilities of BravOcean to strengthen the execution of submarine and offshore projects in deep waters of Brazil.
CoreMarine has completed the acquisition of BravOcean, a Brazilian company specializing in offshore services, as part of its strategy to expand its subsea operations in Brazil. With this acquisition, the company strengthens its capabilities in subsea construction and project execution in a market it considers crucial for its growth.
The integration brings together local expertise in subsea installation, project management, and the provision of specialized personnel. These capabilities are primarily geared towards complex projects involving subsea systems, umbilicals, risers, and flowlines (SURF) in deep water.
CoreMarine strengthens its underwater capabilities in Brazil
BravOcean has an established operational structure in Brazil and experience in executing offshore projects with the acquisition, CoreMarine seeks to combine that knowledge of the local market with its international capabilities to serve subsea construction projects, technical services and project management.
The operation will also allow the company to expand its execution capacity within the country, a relevant aspect given the demand for specialized services related to offshore developments and deep-water submarine projects.
Furthermore, the acquisition stems from a business relationship that both companies have built over several years. Ben Fitzgerald, CEO of CoreMarine, explained that the transaction opens a new chapter for both this collaboration and the company’s presence in Brazil.
This acquisition marks the next chapter in a relationship built over many years with BravOcean. It also marks our next chapter in Brazil.
Ben Fitzgerald, CEO of CoreMarine.
According to the executive, the combination of the skills of both companies will strengthen the local capacity available to serve the Brazilian submarine market.
BravOcean brings experience in SURF projects
In turn, the integration will allow BravOcean to complement its experience in Brazil with the capabilities of a broader international platform. The company specializes in supporting subsea installations and managing highly complex offshore projects.
Vinicius Vieira, commercial director of BravOcean, noted that joining CoreMarine will allow the company to combine its presence and experience in Brazil with international resources and capabilities.
This local experience takes on special importance in the SURF projects, which include subsea systems such as umbilicals, risers and flow lines used to connect equipment and facilities within offshore developments.
Brazil gains importance in CoreMarine’s strategy
Brazil occupies a relevant place in the company’s long-term growth strategy, with the addition of BravOcean, the company expands its local presence and strengthens its capacity to support offshore and subsea projects in the country.
The acquisition comes in a market characterized by deepwater and pre-salt projects, where the execution of underwater developments requires specialized installation services, project management, technical personnel and local operational capacity.
With this integration, CoreMarine seeks to combine its international resources with BravOcean’s operational expertise to meet Brazil’s needs for subsea construction, project execution, and technical services. The financial terms of the acquisition were not disclosed.
Source: World Oil
Photo: CoreMarine
