New Brazilian base for Swire Oilfield Services

0ShareBrazilian subsidiary set up to capitalise on massive deep water oil finds

Swire Oilfield Services is expanding its South American business with the launch of a new Brazilian subsidiary.

The world's largest supplier of specialist offshore cargo carrying units has already invested more than s20 million in Brazil since 2009 to capitalise on the pre-salt hydrocarbon discoveries in the south-east of the country.

Brazil is believed to have reserves of between 70 billion and 110 billion barrels of oil off its Atlantic coastline in waters nearly two miles deep.

Swire Oilfield Services do Brasil Ltda, a newly formed Brazilian incorporated entity, will be headquartered in Macae, Rio de Janeiro.

Rupert Bray, chief operating officer of Swire Oilfield Services said: "We are delighted to be the first internationally recognised CCU and modular provider to be established not only in Brazil, but across the entire continent.

"Brazil is an important region for the oil and gas industry and our new base is important as part of the company's growth strategy.

"The Brazilian project is a priority for Swire Oilfield Services and we have made a solid start in the region.

"We are fully committed in the development of our local operations, and will be supplying locally manufactured units by the end of 2011."

Swire has had cargo carrying units (CCU) in operation in Brazil since the end of 2009, and has 2,000 already in operation.

Its new Brazilian base will allow the firm to manage contracts cross the entire pre-salt area from Sao Paulo to Espirito Santos.

Marcelo Nacif, director and general manager of Swire Oilfield Services do Brasil Ltda, said: "We see definite opportunities for growth in Brazil.

"Being ultra-deep water, the pre-salt activity will require a more sophisticated and safer logistics solution than presently available.

"Petrobras, the state-owned energy company and the sole operator of the pre-salt, has recently starting adopting our certified cargo carrying units.

"This is just the beginning of a culture change transition in the sector."

Swire Oilfield Services, part of the Halifax-based Swire Group, was established in 1979 following the acquisition of Aberdeen-based EPD Containers and Supply.

The company operates predominantly in northern Europe from four UK bases and a further four in Norway as well as bases in Nigeria, Angola, Russia and USA.