Pie In The Sky or The Writing Was On the Wall?
This article from 2017 - Was it "Pie in the Sky" or "The writing was on the wall"?
Some of us knew it had to mature into something, good or bad a shift change was inevitable. Not for the faint hearted at that point in time. Fortune Favours the Brave Most shied away from Brasil we didn't and jumped in.
Many threw in the towel and shut the doors.
It wasn't easy to start with setting up in Brasil, we knew the pitfalls and we carried out our due diligence and prepped with fiscal discipline.
Slowly we saw the market start to react to these mind blowing never imagined bidding rounds with a mouth-watering breakeven of $40Bbl and oil prices at the time ranging between $50-$60/Bbl it was a no brainer.
Almost touching $90Bbl with Brent and the lookahead is bullish, will we see +$100Bbl ? It seems inevitable for how long, who knows?
So now we are seeing what we had hoped for, increased activity, Deepwater units returning to Brasil, campaigns ongoing and starting by the IOCs and Petrobras ramping up with long term rig contracts.
Happy Days...
@subcdobrasil
Available for new opportunities at Subsea
3 年Right decision at the right time. We can probably identify less astute companies who shied away from Brasil at the crucial time instead of expanding into the market.