The offshore market has seen last week, a newly established company to operate in ultra-deep waters: Foresea. The company originates from a restructuring of the Ocyan Drilling Unit, former Odebrecht Oil and Gas.
Foresea assures that the new company is fully independent and financially sustainable, with main shareholders a consortium of foreign investment funds that were the beneficiaries of Ocyan´s debt securities which, under the restructuring, have been converted into capital combined with a further investment of USD 197 million.
As part of the new set up, Ocyan will remain with 6,4% of shares.
Foresea starts up with 1,600 employees, 70% of whom work in their offshore assets.
Foresea owns five drillships (ODN I, ODN II, Norbe VI, Norbe VIII and Norbe IX), all under contracts as well as operator of the PRIO rig, Hunter Queen (formerly West Capricorn) which will start activities in August in the Campos Basin. Each vessel has around 170 crew members. The company will operate from offices in Rio de Janeiro and Macaé.