English 
Spanish 
4 min read
0 comments
EIG is acquiring Ocyan, a Brazilian offshore energy and infrastructure player. The transaction is complex, but it is an important move for the North American company.
EIG, a Washington-based institutional investor in the global energy and infrastructure sectors, is in the process of acquiring Ocyan Participações, a Brazilian provider of solutions for the offshore oil and gas industry. The agreement, valued at US$390 million, will allow EIG to enrich its portfolio in South America, adding the only Brazilian floating production, storage and offloading (FPSO) operator to its portfolio. asset list.
A acquisition of Ocyan, made possible by definitive agreements signed by EIG with Novonor and the National Bank for Economic and Social Development (BNDES), totals US$ 390 million, considering US$ 283 million for the 100% stake in Novonor's capital and the value remainder to pay off your outstanding balance. of non-voting securities related to the company. The North American company explains that the resources of transaction relating to Novonor's shareholding will be paid directly to BNDESPAR, in accordance with a trust agreement previously signed to settle part of the latter's debt.
North American player reinforces acquisition of Ocyan
Flavio Valle, General Director and Head of Brazil at EIG, expressed his satisfaction with the acquisition of Ocyan, emphasizing that the company is in a unique position to lead this complex transaction and propel Ocyan into a new phase of growth, highlighting the admiration for Ocyan's ability to develop ambitious projects in challenging environments.
- Petrobras unit makes small city one of the most polluting
- Green energy revolution: Biomethane replaces natural gas in sustainable ammonia production, reducing dependence on fossil fuels
- No soy or sugarcane! Brazil's largest exported product is oil, to the delight of Petrobras and other companies in the sector.
- From pre-salt to the largest gas reserve: Petrobras discovers 6 trillion cubic feet of gas in Colombia and leads global energy revolution
EIG, which has invested more than US$2 billion in Brazil since 1998, highlights that the acquisition of Ocyan reflects its strategy Brazilian comprehensive and long-term, focused on infrastructure supporting deepwater crude oil production, decommissioning activities and investments in renewable energy and low carbon projects. This acquisition is seen as an important move for the company to strengthen its presence in the renewable energy sector in Brazil.
New Energies and future perspectives of the transaction
The transaction involving the acquisition of Ocyan by EIG is considered strategic and is aligned with future market expectations for oil and gas infrastructure in Brazil. With the North American player's technical expertise in FPSOs and potential synergies with other companies in the EIG portfolio, Ocyan is positioned to benefit and grow further in the Brazilian market. Furthermore, the company will be able to strengthen its projects in the renewable energy sector, contributing to boosting the energy transition in the country.
Strategic support for Ocyan and expansion of its activities
With more than 23 years of experience providing maintenance solutions for the offshore oil and gas sector, Ocyan currently operates four offshore units in joint ventures, maintaining long-term contracts with several companies in the sector. Furthermore, the Brazilian company, which recently established a New Energies division, intends to focus on the digitalization of the oil and gas industry and renewable energy projects, aiming to expand its activities and contribute to the development of the sector.
Completion of the transaction is subject to certain customary closing conditions and is expected to occur in the first quarter of 2024, representing an important milestone for Ocyan and its shareholders. The company believes that the acquisition will open new opportunities and strengthen its activities in the market.
Strategic partnerships and specialized consultancies
The transaction for the acquisition of Ocyan by EIG had the support of exclusive financial consultants, legal consultants and financial advisors, aiming to guarantee the success and efficiency of the transaction. In addition, the company received specialized legal consultancy and asset management services, reinforcing its commitment to the transaction and the Brazilian market.
Restructuring and obtaining strategic contracts
The completion of Ocyan's restructuring process, which resulted in the separation of its drilling business into a new company, was an important milestone for the company, reinforcing its diversified operations in the engineering sector. Furthermore, obtaining new strategic contracts, such as the revitalization of a gas pipeline network in the Campos Basin and the long-term operational agreement for the West Capricorn semi-submersible platform, strengthen the company's position in the market.
Source: © OFF Shore Energy
