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Seagems Celebrates 10 Years of Operation and Strengthens Its Presence in the O&G Sector

A leading company in subsea engineering in the oil and gas sector, born big and now representing 36% of the national PLSV market.

Seagems, Brazilian company specializing in subsea engineering solutions, celebrates 10 years of operation on this June 28, maintaining a historic uptime of 97.64% and demonstrating a high level of operational safety and delivery.

Owner of a fleet consisting of 6 PLSV (Pipe Laying Support Vessel) named after national gemstones – Diamante, Topázio, Ônix, Jade, Esmeralda, and Rubi – the company has carried out numerous subsea interconnection operations over the years, handling nearly 5,000 kilometers of flexible pipes and umbilicals.

The company now holds 36% of the national market for subsea flexible pipe interconnection and handling projects, with all vessels contracted by Petrobras on long-term contracts, ensuring operations until 2028 and a total of USD 1.8 billion for the period.

Although its vessels are designed to work in flexible pipe laying, Seagems has already carried out the installation of MCVs, BAPs, Manifolds, and Wet Christmas Trees (ANM). The company operates mainly in the Brazilian pre-salt area, with 80% of its activity time in the Santos and Campos Basins, but has also operated in international waters during opportunity windows.


Shareholder’s IPO Occurs on Seagems’ Anniversary

On the day it completes 10 years of operation, Seagems experiences another historic moment. Also on this Friday, the 28th, Paratus Energy Services Ltd., an investment holding company in energy and owner of 50% of Seagems, conducted an IPO on the Oslo Stock Exchange, Norway.

The Brazilian company was fundamental in this endeavor, as it currently represents approximately 2/3 of its shareholder’s backlog and was the main driver in attracting investors, with a highly relevant financial track record. In 10 years of operation, Seagems achieved a net revenue of USD 3.9 billion and EBITDA of USD 2.4 billion, which represents an approximately 60% EBITDA margin, a rate considered very attractive in the energy marke.


Focus on People and Sustainability

Seagems’ team today is composed of 1,045 professionals, divided among its vessels and three offices (Rio de Janeiro, Rio das Ostras, and Vienna). It is important to highlight that in 10 years of operation, the company carried out 2,314 promotions and level changes of employees, who underwent 1,262,208 hours of internal training. Regarding workforce training, 45% of the offshore professionals who work for the company today were developed internally to occupy their positions.

“Training qualified personnel is one of Seagems’ main concerns. This initiative explains the company’s low turnover, as almost 50% of employees have been with the company for more than six years. Since 2018, the company has been annually classified as an excellent place to work by GPTW, always ranked among the best companies in the State of Rio de Janeiro. The safety of these people is also extremely important for our operation. In 10 years, Seagems totals 3,319 days without accidents and incidents, which means more than 91% of our working days can be considered perfect days,” said Rogerio Salbego, CEO of Seagems.

Seagems has its own training center under the acronym SEA – Seagems Excellence Academy, an environment that features Pipelaying and ROV Operation simulators, equipment responsible for training more than 400 employees over the past eight years.

Regarding diversity, Seagems now has 20% of its workforce composed of women, in different positions, whether offshore or in leadership roles, representing a 9% increase in female presence in the company since its inception. This contrasts with the market, still marked by a large male majority.

The company was also certified with the Brazil Mata Viva Sustainability Seal – from the Oil and Gas sector, which proves a clear vision for the future regarding the sustainability agenda. Additionally, the company has been developing mechanisms to elevate its structure to reporting and governance standards to ensure the continuity of business and maintain the integration of the organization with the most updated concept of corporate sustainability.


Revolutionizing the O&G Industry in Brazil

Seagems was the first company to build a fully integrated series of world-class PLSVs in a single shipyard.

The vessels, designed and built to carry out highly complex subsea construction operations, have a storage capacity of up to 4,000 tons of flexible pipes. Each ship is equipped with two remotely operated vehicles (ROVs) capable of operating at depths of up to 3,000 meters. With this technology and a team that combines experience and youth, the company executes an average of 12 projects per month for its clients.

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