Brazil's Petrobras, which is planning to develope deepsea oil fields worth some $147.7bn until 2013, dispatched a delegation to South Korea. The mission consists of about 40 officials including CFO Almier Barbass.
South Korea's major shipbuilders such as Hyundai Heavy Industries, Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding are competing behind the scenes to capture the attention of the delegation.
The shipbuilders have been suffering from a severe order drought and some of them have secured liquidity through issuing corporate bonds.
Petrobras holds a presentation meeting to shipbuilders and marine equipment firms in South Korea upon the massive offshore newbuilding project at the Grand Hyatt Seoul on April 20th.
The oil major intends to order a total of 57 drillships and semi-submersible rigs worth some $42bn to develop deep sea oil fields in Brazil.
Petrobras visits Hyundai Heavy and STX O&S on April 21st. Hyundai Heavy president Choi Kil-seon plans to welcome the mission in person and the general managers of the company's six business divisions including Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro Electric Systems and Construction Equipment will be all called out to highlight the comprehensive business portfolio as an overall heavy industry company.
STX Business Group plans to dispatch vice-chairman Jang Won-gab, who controls the group's entire plant business, to its Jinhae shipyard and at the yard STX O&S president Kim Gang-soo receives the delegation.
STX plans to underline the recent contract signing with Brazil for the supply of massive diesel electricity generation sets. It also has a shipyard in Brazil which is a subsidiary of STX Europe.
On April 22nd the delegation also makes a survey of Daewoo Shipbuilding and Samsung Heavy.
Daewoo Shipbuilding will stress its building capabilities in the offshore plant sector and Samsung Heavy will emphasize the fact that it has received 29 drillship orders of the entire 44 such orders placed to date since 2005 worldwide.
Samsung Heavy said Petrobras is also likely to place orders for FPSOs and LNG carriers additionally going forward and it is highly interested in them as well.