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Seagems celebrates 10 years as a leader in subsea engineering solutions in the O&G sector, with 36% of the PLSV market and 97,64% operational uptime.
Seagems proudly celebrates a decade of activities, reaffirming its position in the O&G sector. Recognized as a authority in underwater engineering, Seagems stands out for meeting 36% of the PLSV market demand in Brazil, guaranteeing 97,64% uptime of its operations.
The corporation started out big and, over the years, has established itself as a reference in the segment. As the leading name in subsea projects, Seagems continues to expand its impact on the market, representing a synonym for efficiency and innovation. This 10-year milestone symbolizes not only longevity but also an ongoing commitment to excellence in the oil and gas industry.
Seagems celebrates 10 years and high operational performance
Rio de Janeiro, June 28, 2024 – Seagems, a Brazilian corporation specialized in subsea engineering solutions, celebrates a decade of operation with a historical uptime of 97,64%, highlighting its operational excellence. Owner of a fleet made up of six PLSV – Pipe Laying Support Vessel type vessels, named after national precious stones – Diamond, Topázio, Ônix, Jade, Esmeralda and Rubi, the company has carried out hundreds of submarine interconnection over the years, with almost 5 thousand kilometers of flexible pipelines and umbilicals installed.
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Growth and expansion in the submarine interconnection market
Seagems currently holds 36% of the national market for interconnection projects and handling of subsea flexible pipelines. Its vessels are all under long contracts with Petrobras, ensuring operations until 2028 and a business volume of US$1,8 billion for this period. Although the vessels are designed to lay flexible pipelines, the company has already participated in the installation of MCVs, BAPs, Manifolds and Wet Christmas Trees (ANM). The company operates mainly in the Brazilian pre-salt area, with 80% of its activity time in the Santos and Campos Basins, but it also carried out operations in international waters during windows of opportunity.
Paratus Energy Services Ltd. IPO and Impact on Seagems
Another significant milestone for Seagems, in addition to its 10-year anniversary, is the IPO of Paratus Energy Services Ltd., which also took place on this date, on the Oslo stock exchange, Norway. Paratus, which owns 50% of Seagems, carried out the IPO after a significant your shareholder's backlog, strongly driven by Seagems' track record of robust financial results. In its 10 years, the company had net sales of 3,9 billion dollars and EBITDA of 2,4 billion dollars, approximately 60% EBITDA margin, something highly attractive in the energy industry.
Focus on Training and Sustainability
The Seagems team is made up of 1.145 professionals, divided between its vessels and three offices (Rio de Janeiro, Rio das Ostras and Vienna). In its 10 years, the company has carried out 2.314 promotions and level changes, with a total of 1.262.208 hours of internal training. Notably, 45% of offshore professionals were trained internally, which contributes to low turnover, with almost 50% of employees having been with the company for more than six years. Since 2018, Seagems has been ranked annually as a excellent place to work by GPTW, appearing on the lists of the best companies in the State of Rio de Janeiro. Safety is also a priority; in 10 years, the company recorded 3.019 days without accidents and incidents – more than 91% of its working days are considered perfect days, as revealed by Rogerio Salbego, CEO of Seagems.
Performance and Diversity at Seagems
Seagems has a own training center under the acronym SEA – Seagems Excellence Academy, with Pipeline Laying and ROV Operation simulators, training more than 400 employees in the last eight years. In terms of diversity, the company has 20% of its workforce made up of women, an increase of 9% since its creation, positioning itself above the average for the sector, which is still predominantly male. Furthermore, it was recognized with the Brasil Mata Viva Sustainability Seal – from the Oil and Gas sector, symbolizing a vision of the future aligned with the sustainability agenda. Mechanisms to elevate your structure reporting and governance standards were implemented to ensure business continuity and integration with the most up-to-date concepts of corporate sustainability.
Innovations in the O&G Industry
Revolutionizing the O&G industry in Brazil, Seagems pioneered the construction of a fully integrated series of world-class PLSVs in a single shipyard. These vessels, designed for highly complex underwater construction operations, have a storage capacity of up to 4.000 tons of flexible material. Equipped with two remotely controlled underwater vehicles (ROVs) per vessel, capable of operating at depths of up to 3.000 meters, the company carries out an average of 12 underwater interconnection projects per month for its customers.
About Seagems
Specializing in practical subsea engineering solutions, Seagems offers services on and under the sea, meeting the most varied offshore demands of the energy industry. Composed of a fleet of six ships equipped with 12 remotely controlled underwater vehicles (ROV), the company has a presence in the cities of Rio de Janeiro, Rio das Ostras and Vienna. 100% Brazilian, Seagems is the result of a joint venture between two important multinationals in their respective markets: Sapura Energy Behard and Paratus Energy Services Ltd.
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