We operate across the entire life cycle for E&P, as described in the graphic below. Given that our vessels service the principal production fields of Petrobras and various IOCs, our services rendered and revenues are concentrated primarily in the development and production phase, which makes our business resilient to fluctuations in oil prices, which tend to have a more severe impact on activities in the exploration phase.
Our long-standing relationship with companies in the oil and gas sector, coupled with Brazil’s standing as the leading market for oil and natural gas production, gives us a competitive advantage as we seek to win and negotiate new services agreements.
Our fleet is composed of tailored vessels equipped with cranes and other equipment to operate in deepwater fields, which we believe makes us well-suited to provide specialized, quality services and support the oil exploration and production chain in the pre-salt layer.
In 2017, we acquired Maritim Miljø Beredskap AS, or MMB, a Norwegian company specializing in environmental emergency responses with a large inventory of oil spill response equipment. This acquisition enabled us to expand our portfolio of services and to strengthen relations with the Norwegian Clean Seas Association for Operating Companies, or NOFO, one of the most renowned environmental emergency response associations in the world. As a result, we have one of the largest equipment inventories in Latin America used to prevent and remediate oil spills, respond to emergencies and collect oceanographic data.
We continuously work to develop innovative solutions and technological improvements in connection with our services. We are active in the technology park of the Federal University of Rio de Janeiro (Universidade Federal do Rio de Janeiro), or UFRJ, and have partnered with the Laboratory of Computing Methods Applied to Engineering (Laboratório de Métodos Computacionais em Engenharia), or LAMCE, and Oceanic Technology Laboratory at UFRJ (Laboratório de Tecnologia Oceânica), or LabOceano, to develop and improve solutions to meet our clients’ demands, in addition to actively participating in the primary events in the oil and gas sector.
We continuously invest in building a solid company, with innovative staff, assets and systems. As of September 30, 2020, we had 1,687 employees, including more than 300 biologists, oceanographers, nautical scientists, engineers (naval, environmental, chemical and industrial, among others) and employees with master’s or doctorate degrees.
The continuous training of its employees is reflected in the success of 110 trial tests with IBAMA,—one of the prerequisites for the environmental licensing of oil blocks and fields—and more than 4,600 hours of autonomous vehicle training, including practical drills.
The name of our Company, “OceanPact,” is in reference to our pact with the ocean. Our mission is to protect and preserve our coastline, oceans and natural resources and to empower society and our customers understand, use and explore them responsibly. For this reason, we adhere to ESG standards, which we consider one of the fundamental pillars of our business model.
We also value entrepreneurship, innovation, and shareholding participation as pillars for our growth and development. Our culture of sustainability, appreciation of people, and preservation of the environment is at the heart of our activities and the manner in which we engage with our personnel.
Our value proposition is fully aligned with ESG guidelines, which have been key factors influencing corporate strategic planning across a wide range of sectors. Particularly in the oil and gas sector, our ESG proposition drove our stance of favoring a net zero footprint for IOCs and stricter environmental awareness protocols, which reinforces our long-term relevance for the sector’s strategy given our environmental protection services and responses to environmental events.
We believe we are a key player in the transformation of ESG standards in the oil and gas sector in Brazil. We carry out several awareness campaigns and have contributed to the Environmental Mapping for Emergency Response at Sea, or MAREM, a georeferenced database designed to assist in comprehensive and agile responses to oil spills. Our contributions to MAREM include the mapping of approximately 7,000 kilometers of the Brazilian coast, including more than 2,100 coastal locations, and to assist with the identification of more than 4,300 species. In addition, we received the Environmental Sustainability Project Award (Rio Oil&Gas) in 2016 and 2018. Moreover, we are a signatory to the United Nations Global Compact, and we seek to align our practices with sustainable development goals, such as health and well-being, gender equality, innovation, responsible consumption and life in the water.
In collaboration with certain research institutes and in addition to our partnerships with the Brazilian Navy and the Financing Agency for Studies and Projects (Financiadora de Estudos e Projetos), or FINEP, we developed the Cronos project, which conducts real-time measurement of surface sea currents in strategic locations, compiling valuable data for hydrodynamic modeling and projections and sharing data with projects such as MAREM.
We have long-standing relationships with a diverse customer base.
As of the date of this offering memorandum, we were ranked second in the Petrobras Operational Excellence in Air and Maritime Transport Program (Programa de Excelência Operacional em Transporte Aéreo e Marítimo), or PEOTRAM ranking, which entitled us to a 3% premium in the daily rates for our contracted vessels. In addition, we have received several awards for our quality, safety, environment, and health, or QSMS, policies and practices over the years.