Claudio Costa

posted yesterdayK

Singapore Players Eye Brazil on Engineering

Sticking with the move of major shipbuilders, like Jurong and Kepel Fels,

players of Singapore are now turning up their plans to vest in the technology

sector in Brazil, driven by the panoramas of the pre-salt oil discoveries.

Valenrina Soo, the director for South America at International Enterprise (IE),

the government agency who seeks to drive Singapore into international

ventures, told the mainstream newspaper O Globo that further to enhancing

the country´s footprint in the Brazilian shipbuilding market, as well as providing

labor and equipment to the oil and gas sector, Singapore players now seek to

gain a foothold in the Brazilian engineering sector, with an eye on serving the

pre-salt development.

"Singapore is a strong player in the Brazilian shipbuilding and chartering

sectors, however our primary focal point is now on engineering", Ms. Soo

told O Globo.

A crane barge in the city of Vitória, where the Jurong Aracruz shipyard

construction works are in progress. Credit: O Globo.

Ms. Soo remarked that Singapore oil and gas players will attend the upcoming

Rio Oil & Gas trade fair, slated to kick-off on next September 15, in Rio de

Janeiro, in order to look for investment opportunities.

At least three participants have prepared plans to lay foot in Brazil.

Global Tech Systems Engineering, a subsidiary of KS Energy Services, ranked

as an engineering consulting leader, PH Hydraulics and Engineering and KTL

Offshore are them.

"We are unable to delineate how much we will invest, however, our stake in

Brazil is for real. A total of US$ 1.2 billion was invested last year by companies

of Singapore in the oil and gas sector", Ms. Soo remarked.

LONG TERM VISION

Despite the current financial woes, Singapore is confident in the potential of

the Brazilian market.

"We are not in possession of too many natural resources, on the other hand,

we experience a great deal of expertise and technology to offer, and we see

good opportunities in Brazil. The country is through a downturn nowadays,

however the potential of its oil and gas market cannot be ignored", Ms. Soo

remarked.