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Realizing That the Oil and Gas Sector Will Be Favorable in the Coming Years, Odebrecht Óleo e Gás Changes Its Name to Attract Investments
[supsystic-social-sharing id=’1′]A Odebrecht Óleo e Gás announced yesterday (15) on social media and in the press that it has now changed its corporate name; it is now called Ocyan. This measure was a radical action taken by the company to dissociate its brand from corruption scandals and attract new investors. The announcement was made on the same day to the company’s employees as well. Besides the oil and gas subsidiary, other companies in the group also changed their names: Odebrecht Agroindustrial is now called Atvos and Odebrecht Realizações Imobiliárias is now referred to as OR.A. Braskem only made subtle changes to its brand identification logo: it removed the red color.
Due to the financial situation of Petrobras in 2015, the state-owned company at the time ended up canceling the contract for the drilling vessel ODN Tay IV with Odebrecht Óleo e Gás, which would be responsible for its chartering and would also ensure an extra bonus in its revenues. Aware that the offshore scenario in the coming years will be entirely favorable, Ocyan is now racing against time to consolidate the company, form new partnerships, and increase its client portfolio.
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Ocyan’s Plans for 2018
- Initially, its intention is to make investments very conservatively, focusing first on the gas sector
- In 2018, it aims to return to Petrobras’ supplier registration system
- Secure contracts to charter the offshore unit Norbe VI
- Obtain more underwater construction contracts
Its spending intention in this first wave is about 400 million reais. Remembering that it still owes its creditors more than 2.95 billion reais, this debt is expected to reach 2.6 billion by the end of 2022, according to Ocyan. Did you hear that Odebrecht also won a thermoelectric project in Rio de Janeiro? Check out the article by clicking here.
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